Fifth Third Bancorp Takes Position in VanEck Merk Gold ETF $OUNZ

Fifth Third Bancorp bought a new position in shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) during the first quarter, according to its most recent filing with the SEC. The fund bought 22,288 shares of the company’s stock, valued at approximately $1,004,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OUNZ. Asset One Wealth Management LLC purchased a new stake in VanEck Merk Gold ETF during the fourth quarter worth about $33,578,000. Van ECK Associates Corp boosted its stake in VanEck Merk Gold ETF by 26.7% in the fourth quarter. Van ECK Associates Corp now owns 1,844,154 shares of the company’s stock valued at $76,496,000 after acquiring an additional 388,131 shares during the last quarter. LPL Financial LLC grew its position in shares of VanEck Merk Gold ETF by 10.0% during the 4th quarter. LPL Financial LLC now owns 3,190,689 shares of the company’s stock valued at $132,350,000 after acquiring an additional 290,206 shares during the period. Raymond James Financial Inc. grew its position in shares of VanEck Merk Gold ETF by 38.4% during the 2nd quarter. Raymond James Financial Inc. now owns 791,392 shares of the company’s stock valued at $25,237,000 after acquiring an additional 219,422 shares during the period. Finally, MH & Associates Securities Management Corp ADV purchased a new stake in shares of VanEck Merk Gold ETF during the 4th quarter worth approximately $5,505,000.

VanEck Merk Gold ETF Stock Performance

NYSEARCA:OUNZ opened at $38.97 on Monday. The stock has a market capitalization of $2.51 billion, a PE ratio of 6.97 and a beta of 0.17. The firm’s 50 day moving average is $40.66 and its 200 day moving average is $44.40. VanEck Merk Gold ETF has a 12 month low of $31.48 and a 12 month high of $53.35.

Trending Headlines about VanEck Merk Gold ETF

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

• Positive Sentiment: Gold continues to hold key support near $4,000, and some analysts say that could mark an inflection point if buying momentum improves. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports rose to a fresh two-year high, signaling stronger physical demand as lower prices make bullion more attractive. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Gold has rebounded at times on falling Treasury yields and weaker real-rate pressure, which tends to improve the appeal of non-yielding assets like gold. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: Gold remains supported by the view that investors should keep at least a modest allocation to the metal, reinforcing long-term demand. Investors should still hold a modest amount of gold – BlackRock’s Koesterich
• Neutral Sentiment: Gold is still range-bound overall, with analysts noting that resilient U.S. economic data, higher rates, and a stronger dollar are limiting upside and creating a mixed near-term backdrop. Gold stuck in neutral as S&P Global highlights healthy US PMI activity
• Negative Sentiment: Earlier weakness in gold came from higher Treasury yields, a firmer U.S. dollar, and oil-price volatility, which pressured precious metals and may continue to cap OUNZ’s gains. Gold falls as oil spike, higher yields pressure metals – Kitco PM Report
• Negative Sentiment: Several market reports say gold has struggled to sustain rallies above $4,100, suggesting the ETF could remain pressured unless bullion breaks decisively higher. Investors should still hold a modest amount of gold – BlackRock’s Koesterich

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.