Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Stock Passes Above Fifty Day Moving Average of $21.30

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.30 and traded as high as $22.67. Van Eck Merk Gold Trust shares last traded at $22.55, with a volume of 1,724,284 shares changing hands.

Van Eck Merk Gold Trust Price Performance

The company has a market cap of $908.87 million, a PE ratio of 6.97 and a beta of 0.12. The business has a 50-day moving average of $21.36 and a 200 day moving average of $20.09.

Institutional Trading of Van Eck Merk Gold Trust

Several hedge funds have recently bought and sold shares of OUNZ. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Van Eck Merk Gold Trust by 295.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,075 shares of the company’s stock worth $122,000 after acquiring an additional 4,539 shares during the period. Northwest Financial Advisors bought a new position in shares of Van Eck Merk Gold Trust in the fourth quarter worth about $162,000. Advisory Services Network LLC bought a new position in shares of Van Eck Merk Gold Trust in the fourth quarter worth about $166,000. Principal Securities Inc. bought a new position in shares of Van Eck Merk Gold Trust in the fourth quarter worth about $200,000. Finally, CWM LLC boosted its stake in shares of Van Eck Merk Gold Trust by 15.3% in the third quarter. CWM LLC now owns 10,156 shares of the company’s stock worth $182,000 after acquiring an additional 1,346 shares during the period.

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.