Procyon Advisors LLC Grows Position in VanEck Merk Gold ETF $OUNZ

Procyon Advisors LLC grew its position in VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 75.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,762 shares of the company’s stock after acquiring an additional 25,784 shares during the quarter. Procyon Advisors LLC owned 0.09% of VanEck Merk Gold ETF worth $2,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cascade Investment Group Inc. purchased a new position in shares of VanEck Merk Gold ETF in the fourth quarter valued at $890,000. Security National Bank raised its stake in VanEck Merk Gold ETF by 13.6% during the fourth quarter. Security National Bank now owns 267,425 shares of the company’s stock valued at $11,093,000 after purchasing an additional 31,915 shares in the last quarter. Texas Yale Capital Corp. purchased a new stake in VanEck Merk Gold ETF during the fourth quarter valued at $792,000. Sanctuary Advisors LLC lifted its position in VanEck Merk Gold ETF by 8.5% during the fourth quarter. Sanctuary Advisors LLC now owns 267,442 shares of the company’s stock valued at $11,093,000 after purchasing an additional 21,050 shares during the last quarter. Finally, Asset One Wealth Management LLC bought a new position in VanEck Merk Gold ETF during the fourth quarter valued at $33,578,000.

VanEck Merk Gold ETF Stock Down 2.6%

Shares of NYSEARCA:OUNZ opened at $38.46 on Tuesday. VanEck Merk Gold ETF has a 52 week low of $31.48 and a 52 week high of $53.35. The stock has a market capitalization of $2.48 billion, a P/E ratio of 6.97 and a beta of 0.17. The firm has a fifty day simple moving average of $41.74 and a two-hundred day simple moving average of $44.61.

VanEck Merk Gold ETF News Roundup

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

• Negative Sentiment: Gold slipped as global bond yields rose, with traders seeing less support for the metal from monetary policy expectations. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns
• Negative Sentiment: Gold’s safe-haven demand weakened as Middle East tensions boosted oil prices and reinforced expectations for higher-for-longer rates. The War Got Louder. The Gold Bounce Faded.
• Neutral Sentiment: Some analysts argue the recent pullback could strengthen gold’s longer-term investment case as a reserve asset in a more multipolar world. Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong
• Negative Sentiment: Gold and silver prices have continued to weaken, with gold trading below the $4,000 level and posting a sizable year-to-date decline. Gold Dips Below $4,000. Silver Prices Also Down.
• Negative Sentiment: Traders are pricing in a more hawkish Fed, which has pushed precious metals lower and kept pressure on the ETF. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4000 Level

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.