VanEck Merk Gold ETF (NYSEARCA:OUNZ) Reaches New 1-Year High – Here’s What Happened

VanEck Merk Gold ETF (NYSEARCA:OUNZ)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.57 and last traded at $41.45, with a volume of 20218 shares traded. The stock had previously closed at $40.69.

VanEck Merk Gold ETF Price Performance

The company has a market cap of $2.34 billion, a PE ratio of 6.97 and a beta of 0.15. The stock’s 50-day moving average is $35.74 and its 200 day moving average is $33.24.

Institutional Trading of VanEck Merk Gold ETF

Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its position in VanEck Merk Gold ETF by 87.7% during the 1st quarter. IFP Advisors Inc now owns 929 shares of the company’s stock valued at $28,000 after buying an additional 434 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of VanEck Merk Gold ETF during the second quarter worth about $28,000. Smartleaf Asset Management LLC purchased a new stake in shares of VanEck Merk Gold ETF during the first quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new position in shares of VanEck Merk Gold ETF during the second quarter valued at about $35,000. Finally, Financial Network Wealth Advisors LLC purchased a new position in shares of VanEck Merk Gold ETF in the 1st quarter valued at approximately $51,000.

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.