VanEck Merk Gold ETF (NYSEARCA:OUNZ) Sees Significant Drop in Short Interest

VanEck Merk Gold ETF (NYSEARCA:OUNZ) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 466,723 shares, a decrease of 36.6% from the April 15th total of 736,636 shares. Based on an average trading volume of 612,229 shares, the short-interest ratio is currently 0.8 days. Currently, 0.7% of the shares of the stock are short sold.

Institutional Trading of VanEck Merk Gold ETF

Hedge funds have recently added to or reduced their stakes in the stock. Walkner Condon Financial Advisors LLC increased its holdings in VanEck Merk Gold ETF by 0.5% in the 1st quarter. Walkner Condon Financial Advisors LLC now owns 43,352 shares of the company’s stock worth $1,951,000 after purchasing an additional 229 shares in the last quarter. Stephens Inc. AR boosted its position in VanEck Merk Gold ETF by 4.2% during the 4th quarter. Stephens Inc. AR now owns 7,060 shares of the company’s stock worth $293,000 after buying an additional 285 shares during the period. Kingswood Wealth Advisors LLC boosted its position in VanEck Merk Gold ETF by 3.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,843 shares of the company’s stock worth $408,000 after buying an additional 364 shares during the period. Traphagen Investment Advisors LLC grew its holdings in VanEck Merk Gold ETF by 6.2% during the 4th quarter. Traphagen Investment Advisors LLC now owns 6,678 shares of the company’s stock worth $277,000 after acquiring an additional 392 shares during the last quarter. Finally, Invst LLC increased its position in VanEck Merk Gold ETF by 3.1% in the 4th quarter. Invst LLC now owns 13,256 shares of the company’s stock valued at $550,000 after acquiring an additional 400 shares during the period.

Key VanEck Merk Gold ETF News

Here are the key news stories impacting VanEck Merk Gold ETF this week:

• Positive Sentiment: Gold could still have significant upside later this year if forecasts from MKS PAMP prove accurate, with one strategist projecting a move toward $5,800 by December. Gold will hit $5,800 ATH by December, but silver has highest upside, platinum has breakout potential – MKS PAMP’s Shiels
• Positive Sentiment: Gold continues to find some support from central bank buying and lingering geopolitical uncertainty, which may help limit downside if risk appetite weakens again. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound After Pullback
• Neutral Sentiment: U.S. pending home sales rose 1.4% in April, a data point that adds to the macro backdrop but does not directly change the gold outlook on its own. Gold prices remain below $4,500 as U.S. pending home sales rise 1.4% in April
• Negative Sentiment: Gold has broken below key short-term support levels as yields rise and traders trim expectations for Fed rate cuts, which is weighing on bullion-backed funds like OUNZ. Gold breaks below $4,540, silver tests $75 as yields rise, Hormuz talks cap oil – Kitco AM Report
• Negative Sentiment: Several recent commentaries point to inflation pressure, higher oil prices, and renewed Fed rate-hike fears as headwinds for gold, increasing the risk of further near-term weakness. Gold and Silver Technical Analysis: Inflation Fears Put Key Levels at Risk

VanEck Merk Gold ETF Stock Performance

Shares of VanEck Merk Gold ETF stock traded down $0.48 during trading on Tuesday, reaching $43.35. 266,781 shares of the company’s stock were exchanged, compared to its average volume of 1,687,060. VanEck Merk Gold ETF has a 1-year low of $31.18 and a 1-year high of $53.35. The firm’s 50-day moving average price is $45.51 and its 200 day moving average price is $44.36. The company has a market cap of $2.74 billion, a P/E ratio of 6.97 and a beta of 0.15.

VanEck Merk Gold ETF 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.