Drake & Associates LLC Purchases 31,713 Shares of VanEck Merk Gold ETF $OUNZ

Drake & Associates LLC increased its position in shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 7.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 481,730 shares of the company’s stock after purchasing an additional 31,713 shares during the quarter. VanEck Merk Gold ETF comprises approximately 4.0% of Drake & Associates LLC’s investment portfolio, making the stock its 11th biggest position. Drake & Associates LLC’s holdings in VanEck Merk Gold ETF were worth $19,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Asset One Wealth Management LLC purchased a new stake in VanEck Merk Gold ETF in the 4th quarter worth about $33,578,000. Van ECK Associates Corp boosted its position in shares of VanEck Merk Gold ETF by 26.7% during the fourth quarter. Van ECK Associates Corp now owns 1,844,154 shares of the company’s stock valued at $76,496,000 after buying an additional 388,131 shares during the period. LPL Financial LLC boosted its position in shares of VanEck Merk Gold ETF by 10.0% during the fourth quarter. LPL Financial LLC now owns 3,190,689 shares of the company’s stock valued at $132,350,000 after buying an additional 290,206 shares during the period. Raymond James Financial Inc. grew its stake 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 valued at $25,237,000 after buying an additional 219,422 shares during the last quarter. Finally, MH & Associates Securities Management Corp ADV bought a new position in shares of VanEck Merk Gold ETF during the fourth quarter valued at approximately $5,505,000.

VanEck Merk Gold ETF News Roundup

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

• Negative Sentiment: Gold prices weakened after the Federal Reserve’s hawkish outlook, with traders repricing a “higher-for-longer” rate environment that typically hurts non-yielding assets like gold. Wall Street bears back in control after the Fed’s hawkish outlook, Main Street leans bullish despite gold’s backslide to $4,200/oz
• Negative Sentiment: Spot gold and silver extended losses as the U.S. dollar tested yearly highs, adding pressure to precious metals and by extension to OUNZ. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Technical analysis articles pointed to further downside risk for gold after it failed at key resistance and began testing support zones, suggesting near-term weakness could continue. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?
• Neutral Sentiment: Some longer-term commentary remained supportive for gold, citing inflation risks, fiscal deficits, and central bank buying, but these tailwinds were outweighed today by the Fed and dollar headwinds. Gold’s bull market has room to run as inflation risks, fiscal deficits support prices – Wells Fargo

VanEck Merk Gold ETF Stock Performance

Shares of NYSEARCA OUNZ opened at $40.55 on Friday. The business’s 50 day moving average price is $43.84 and its 200-day moving average price is $44.84. VanEck Merk Gold ETF has a fifty-two week low of $31.36 and a fifty-two week high of $53.35. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 6.97 and a beta of 0.14.

VanEck Merk Gold ETF 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.