Envestnet Asset Management Inc. Purchases 289,147 Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ)

Envestnet Asset Management Inc. boosted its position in Van Eck Merk Gold Trust (NYSEARCA:OUNZ) by 70.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 699,438 shares of the company’s stock after acquiring an additional 289,147 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Van Eck Merk Gold Trust were worth $15,709,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. increased its stake in Van Eck Merk Gold Trust by 1.0% in the first quarter. Mather Group LLC. now owns 50,473 shares of the company’s stock valued at $1,007,000 after acquiring an additional 491 shares during the last quarter. Sloy Dahl & Holst LLC increased its stake in Van Eck Merk Gold Trust by 2.2% in the first quarter. Sloy Dahl & Holst LLC now owns 23,590 shares of the company’s stock valued at $507,000 after acquiring an additional 500 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Van Eck Merk Gold Trust by 7.5% in the first quarter. Cape Investment Advisory Inc. now owns 11,321 shares of the company’s stock valued at $243,000 after acquiring an additional 792 shares during the last quarter. Tower Wealth Partners Inc. increased its stake in Van Eck Merk Gold Trust by 1.8% in the first quarter. Tower Wealth Partners Inc. now owns 54,474 shares of the company’s stock valued at $1,170,000 after acquiring an additional 965 shares during the last quarter. Finally, Solstein Capital LLC increased its stake in Van Eck Merk Gold Trust by 0.9% in the second quarter. Solstein Capital LLC now owns 192,451 shares of the company’s stock valued at $4,322,000 after acquiring an additional 1,745 shares during the last quarter.

Van Eck Merk Gold Trust Stock Performance

NYSEARCA OUNZ opened at $25.70 on Wednesday. The firm’s fifty day moving average price is $23.99 and its two-hundred day moving average price is $22.95. The stock has a market cap of $1.05 billion, a PE ratio of 6.97 and a beta of 0.12. Van Eck Merk Gold Trust has a fifty-two week low of $17.56 and a fifty-two week high of $25.73.

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.