Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 52-Week High – Should You Buy?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $29.34 and last traded at $29.26, with a volume of 1481819 shares trading hands. The stock had previously closed at $28.93.

Van Eck Merk Gold Trust Price Performance

The firm has a market cap of $1.47 billion, a P/E ratio of 6.97 and a beta of 0.20. The company’s 50 day moving average is $27.59 and its two-hundred day moving average is $26.21.

Institutional Trading of Van Eck Merk Gold Trust

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Van Eck Merk Gold Trust during the fourth quarter valued at approximately $14,412,000. Fiduciary Family Office LLC bought a new stake in Van Eck Merk Gold Trust in the 4th quarter valued at $11,629,000. Kiker Wealth Management LLC acquired a new position in shares of Van Eck Merk Gold Trust in the 4th quarter valued at $9,421,000. Proficio Capital Partners LLC lifted its holdings in shares of Van Eck Merk Gold Trust by 2,430.0% during the 4th quarter. Proficio Capital Partners LLC now owns 369,380 shares of the company’s stock worth $9,345,000 after acquiring an additional 354,780 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of Van Eck Merk Gold Trust by 2,477.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 255,575 shares of the company’s stock valued at $6,466,000 after acquiring an additional 245,659 shares in the last quarter.

Van Eck Merk Gold Trust Company 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.