VanEck Merk Gold ETF (NYSEARCA:OUNZ) Reaches New 1-Year High – Here’s What Happened

Shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) hit a new 52-week high during mid-day 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 Trading Up 1.1%

The stock has a market capitalization of $2.27 billion, a P/E ratio of 6.97 and a beta of 0.08. The firm’s fifty day moving average is $37.02 and its 200-day moving average is $33.86.

Hedge Funds Weigh In On VanEck Merk Gold ETF

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC lifted its position in shares of VanEck Merk Gold ETF by 50.1% during the first quarter. LPL Financial LLC now owns 2,655,747 shares of the company’s stock worth $80,044,000 after purchasing an additional 886,741 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of VanEck Merk Gold ETF by 2.5% during the second quarter. Cetera Investment Advisers now owns 1,697,363 shares of the company’s stock worth $54,129,000 after purchasing an additional 41,299 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of VanEck Merk Gold ETF by 11.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,024,698 shares of the company’s stock worth $38,109,000 after purchasing an additional 105,657 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of VanEck Merk Gold ETF by 38.4% during the second quarter. Raymond James Financial Inc. now owns 791,392 shares of the company’s stock worth $25,237,000 after purchasing an additional 219,422 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of VanEck Merk Gold ETF by 13.3% during the second quarter. Ameriprise Financial Inc. now owns 770,869 shares of the company’s stock worth $24,863,000 after purchasing an additional 90,342 shares in the last quarter.

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.