Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Hits New 12-Month High – Still a Buy?

Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ) reached a new 52-week high on Monday . The company traded as high as $28.44 and last traded at $28.45, with a volume of 566156 shares traded. The stock had previously closed at $28.32.

Van Eck Merk Gold Trust Trading Up 0.5 %

The company has a market cap of $1.16 billion, a PE ratio of 6.97 and a beta of 0.12. The stock has a 50 day moving average price of $26.45 and a 200 day moving average price of $25.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its holdings in shares of Van Eck Merk Gold Trust by 3.5% during the fourth quarter. Cetera Investment Advisers now owns 1,608,488 shares of the company’s stock valued at $40,695,000 after buying an additional 54,445 shares during the last quarter. Pitcairn Co. lifted its position in Van Eck Merk Gold Trust by 3.8% in the 4th quarter. Pitcairn Co. now owns 1,542,559 shares of the company’s stock valued at $39,027,000 after acquiring an additional 56,623 shares in the last quarter. Van ECK Associates Corp boosted its stake in Van Eck Merk Gold Trust by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 870,694 shares of the company’s stock valued at $22,029,000 after purchasing an additional 64,556 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Van Eck Merk Gold Trust by 7.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 830,273 shares of the company’s stock worth $21,006,000 after purchasing an additional 60,054 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Van Eck Merk Gold Trust by 1.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,256 shares of the company’s stock worth $19,201,000 after purchasing an additional 9,085 shares in the last quarter.

Van Eck Merk Gold Trust 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.