Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Stock Price Crosses Above 50-Day Moving Average of $21.30

Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ) passed 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.

Van Eck Merk Gold Trust Price Performance

The business has a 50 day moving average of $21.30 and a 200 day moving average of $20.05. The company has a market cap of $906.06 million, a PE ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its holdings in 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 purchasing an additional 4,539 shares in the last quarter. Northwest Financial Advisors bought a new position in shares of Van Eck Merk Gold Trust during the fourth quarter valued at $162,000. Advisory Services Network LLC bought a new position in shares of Van Eck Merk Gold Trust during the fourth quarter valued at $166,000. Principal Securities Inc. bought a new position in shares of Van Eck Merk Gold Trust during the fourth quarter valued at $200,000. Finally, CWM LLC increased its holdings in shares of Van Eck Merk Gold Trust by 15.3% during the third quarter. CWM LLC now owns 10,156 shares of the company’s stock valued at $182,000 after acquiring an additional 1,346 shares in the last quarter.

About Van Eck Merk Gold Trust

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.