VanEck Merk Gold ETF (NYSEARCA:OUNZ) Reaches New 52-Week High – What’s Next?

VanEck Merk Gold ETF (NYSEARCA:OUNZ)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.38 and last traded at $34.97, with a volume of 778052 shares changing hands. The stock had previously closed at $35.02.

VanEck Merk Gold ETF Trading Down 0.1%

The firm has a market capitalization of $1.95 billion, a P/E ratio of 6.97 and a beta of 0.15. The company’s fifty day simple moving average is $32.72 and its 200 day simple moving average is $31.50.

Hedge Funds Weigh In On VanEck Merk Gold ETF

A number of institutional investors have recently bought and sold shares of OUNZ. IFP Advisors Inc lifted its holdings in VanEck Merk Gold ETF by 87.7% in the first 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. Archer Investment Corp bought a new position in shares of VanEck Merk Gold ETF in the 2nd quarter worth approximately $28,000. Smartleaf Asset Management LLC bought a new position in shares of VanEck Merk Gold ETF in the 1st quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of VanEck Merk Gold ETF in the 2nd quarter valued at approximately $35,000. Finally, Financial Network Wealth Advisors LLC bought a new stake in shares of VanEck Merk Gold ETF during the first quarter valued at approximately $51,000.

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.