Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 1-Year High – Still a Buy?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.26 and last traded at $28.20, with a volume of 1801 shares trading hands. The stock had previously closed at $27.83.

Van Eck Merk Gold Trust Stock Performance

The company has a 50-day moving average of $26.34 and a 200-day moving average of $25.57. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its stake in Van Eck Merk Gold Trust by 0.7% in the 3rd quarter. Creative Planning now owns 58,110 shares of the company’s stock valued at $1,475,000 after acquiring an additional 392 shares in the last quarter. Tower Wealth Partners Inc. lifted its stake in Van Eck Merk Gold Trust by 1.0% in the 3rd quarter. Tower Wealth Partners Inc. now owns 50,679 shares of the company’s stock valued at $1,287,000 after acquiring an additional 495 shares in the last quarter. Wealth Quarterback LLC lifted its stake in Van Eck Merk Gold Trust by 4.1% in the 4th quarter. Wealth Quarterback LLC now owns 12,513 shares of the company’s stock valued at $317,000 after acquiring an additional 496 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in Van Eck Merk Gold Trust by 1.6% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 31,595 shares of the company’s stock valued at $802,000 after acquiring an additional 500 shares in the last quarter. Finally, Sigma Planning Corp lifted its stake in Van Eck Merk Gold Trust by 1.2% in the 3rd quarter. Sigma Planning Corp now owns 44,603 shares of the company’s stock valued at $1,132,000 after acquiring an additional 509 shares in the last quarter.

About Van Eck Merk Gold Trust

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.