Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Share Price Passes Above Fifty 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 changing hands.

Van Eck Merk Gold Trust Stock Performance

The stock has a market capitalization of $906.06 million, a P/E ratio of 6.97 and a beta of 0.12. The firm’s fifty day simple moving average is $21.30 and its 200 day simple moving average is $20.05.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

Hedge funds have recently made changes to their positions in the stock. Granite Bay Wealth Management LLC boosted its stake in shares of Van Eck Merk Gold Trust by 1.6% in the 4th quarter. Granite Bay Wealth Management LLC now owns 124,976 shares of the company’s stock valued at $2,390,000 after purchasing an additional 2,000 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Van Eck Merk Gold Trust by 14.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,580 shares of the company’s stock worth $279,000 after purchasing an additional 2,000 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Van Eck Merk Gold Trust by 23.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 520,056 shares of the company’s stock worth $9,304,000 after purchasing an additional 100,169 shares during the last quarter. Knightsbridge Asset Management LLC increased its stake in shares of Van Eck Merk Gold Trust by 15.4% in the 3rd quarter. Knightsbridge Asset Management LLC now owns 39,981 shares of the company’s stock valued at $715,000 after acquiring an additional 5,344 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Van Eck Merk Gold Trust by 3.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 296,884 shares of the company’s stock valued at $5,926,000 after acquiring an additional 10,332 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.