VanEck Merk Gold ETF (NYSEARCA:OUNZ) Sets New 12-Month High – Here’s Why

VanEck Merk Gold ETF (NYSEARCA:OUNZ)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $437.03 and last traded at $38.3150, with a volume of 235320 shares trading hands. The stock had previously closed at $37.91.

VanEck Merk Gold ETF Price Performance

The business’s 50-day simple moving average is $37.35 and its two-hundred day simple moving average is $33.96. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 6.97 and a beta of 0.08.

Institutional Investors Weigh In On VanEck Merk Gold ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of OUNZ. CWM LLC boosted its position in shares of VanEck Merk Gold ETF by 2.8% during the 3rd quarter. CWM LLC now owns 9,031 shares of the company’s stock worth $336,000 after purchasing an additional 250 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in VanEck Merk Gold ETF by 1.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 33,890 shares of the company’s stock valued at $1,021,000 after buying an additional 335 shares in the last quarter. IFP Advisors Inc raised its stake in VanEck Merk Gold ETF by 87.7% during the 1st quarter. IFP Advisors Inc now owns 929 shares of the company’s stock worth $28,000 after buying an additional 434 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in VanEck Merk Gold ETF by 0.5% in the third quarter. Stratos Wealth Partners LTD. now owns 88,060 shares of the company’s stock worth $3,275,000 after acquiring an additional 435 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in VanEck Merk Gold ETF by 4.4% in the third quarter. Chicago Partners Investment Group LLC now owns 13,123 shares of the company’s stock valued at $500,000 after acquiring an additional 548 shares during the period.

About VanEck Merk Gold ETF

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.