Pekin Hardy Strauss Inc. Sells 35,665 Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ)

Pekin Hardy Strauss Inc. reduced its stake in shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 352,225 shares of the company’s stock after selling 35,665 shares during the quarter. Van Eck Merk Gold Trust accounts for approximately 1.1% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 14th largest position. Pekin Hardy Strauss Inc.’s holdings in Van Eck Merk Gold Trust were worth $8,911,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Van Eck Merk Gold Trust in the third quarter worth $27,000. Stonebridge Financial Group LLC purchased a new position in Van Eck Merk Gold Trust in the fourth quarter worth $41,000. Golden State Wealth Management LLC purchased a new position in Van Eck Merk Gold Trust in the fourth quarter worth $175,000. Vontobel Holding Ltd. purchased a new position in Van Eck Merk Gold Trust in the fourth quarter worth $228,000. Finally, Flow Traders U.S. LLC purchased a new position in Van Eck Merk Gold Trust in the third quarter worth $295,000.

Van Eck Merk Gold Trust Stock Performance

Shares of NYSEARCA:OUNZ opened at $28.32 on Friday. Van Eck Merk Gold Trust has a 52-week low of $19.53 and a 52-week high of $28.41. The firm has a fifty day moving average of $26.45 and a 200 day moving average of $25.64. The firm has a market capitalization of $1.16 billion, a PE ratio of 6.97 and a beta of 0.12.

Van Eck Merk Gold Trust Profile

The VanEck Merk Gold Trust (OUNZ) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses, using gold bars and coins held in London vaults. Investors can redeem their shares for gold in increments of 1 troy oz. OUNZ was launched on May 16, 2014 and is managed by VanEck.