JPMorgan Chase & Co. Makes New Investment in Van Eck Merk Gold Trust (NYSEARCA:OUNZ)

JPMorgan Chase & Co. purchased a new stake in shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 138,636 shares of the company’s stock, valued at approximately $3,507,000. JPMorgan Chase & Co. owned 0.34% of Van Eck Merk Gold Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Van Eck Merk Gold Trust in the fourth quarter worth about $41,000. Golden State Wealth Management LLC bought a new stake in Van Eck Merk Gold Trust during the 4th quarter worth approximately $175,000. Steward Partners Investment Advisory LLC lifted its holdings in Van Eck Merk Gold Trust by 10.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,918 shares of the company’s stock valued at $226,000 after purchasing an additional 866 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Van Eck Merk Gold Trust in the fourth quarter worth approximately $228,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of Van Eck Merk Gold Trust by 23.3% in the fourth quarter. Cape Investment Advisory Inc. now owns 10,297 shares of the company’s stock worth $261,000 after purchasing an additional 1,945 shares in the last quarter.

Van Eck Merk Gold Trust Stock Performance

OUNZ opened at $33.00 on Tuesday. Van Eck Merk Gold Trust has a fifty-two week low of $22.01 and a fifty-two week high of $33.08. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 6.97 and a beta of 0.16. The firm’s fifty day moving average is $29.20 and its 200 day moving average is $27.09.

Van Eck Merk Gold Trust 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.