VanEck Merk Gold ETF (NYSEARCA:OUNZ) Sees Large Increase in Short Interest

VanEck Merk Gold ETF (NYSEARCA:OUNZ) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 276,800 shares, anincreaseof198.9% from the July 31st total of 92,600 shares. Based on an average trading volume of 928,200 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 928,200 shares, the short-interest ratio is currently 0.3 days.

VanEck Merk Gold ETF Stock Up 1.3%

NYSEARCA OUNZ opened at $34.63 on Friday. VanEck Merk Gold ETF has a 12-month low of $24.00 and a 12-month high of $34.68. The company has a market capitalization of $1.93 billion, a PE ratio of 6.97 and a beta of 0.15. The firm’s 50 day moving average is $32.49 and its 200-day moving average is $31.32.

Hedge Funds Weigh In On VanEck Merk Gold ETF

Several institutional investors and hedge funds have recently made changes to their positions in OUNZ. Golden State Wealth Management LLC lifted its stake in VanEck Merk Gold ETF by 8.0% during the first quarter. Golden State Wealth Management LLC now owns 7,448 shares of the company’s stock worth $224,000 after purchasing an additional 550 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in VanEck Merk Gold ETF by 4.4% during the first quarter. DAVENPORT & Co LLC now owns 11,900 shares of the company’s stock worth $359,000 after purchasing an additional 500 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in VanEck Merk Gold ETF by 3.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 185,255 shares of the company’s stock worth $5,584,000 after purchasing an additional 5,684 shares during the last quarter. IFP Advisors Inc lifted its stake in VanEck Merk Gold ETF by 87.7% during the first quarter. IFP Advisors Inc now owns 929 shares of the company’s stock worth $28,000 after purchasing an additional 434 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in VanEck Merk Gold ETF by 55.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,740 shares of the company’s stock worth $120,000 after purchasing an additional 1,682 shares during 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.