VanEck Merk Gold ETF $OUNZ Shares Sold by RDA Financial Network

RDA Financial Network lowered its position in VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,534 shares of the company’s stock after selling 12,841 shares during the quarter. RDA Financial Network’s holdings in VanEck Merk Gold ETF were worth $2,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ferguson Shapiro LLC acquired a new stake in VanEck Merk Gold ETF in the 2nd quarter valued at about $3,042,000. Asset One Wealth Management LLC acquired a new position in VanEck Merk Gold ETF during the fourth quarter worth about $33,578,000. Virtu Financial LLC acquired a new position in VanEck Merk Gold ETF during the fourth quarter worth about $5,093,000. Sovran Advisors LLC acquired a new position in VanEck Merk Gold ETF during the first quarter worth about $675,000. Finally, Solstein Capital LLC lifted its holdings in shares of VanEck Merk Gold ETF by 7.8% in the second quarter. Solstein Capital LLC now owns 280,248 shares of the company’s stock valued at $10,815,000 after purchasing an additional 20,294 shares in the last quarter.

More VanEck Merk Gold ETF News

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

• Positive Sentiment: A weaker-than-expected Philadelphia Fed manufacturing reading of 20.9, compared with expectations of 28.4, supported gold by raising concerns about economic growth and potentially reducing pressure for additional Fed tightening. Gold price near session high after Philly Fed survey falls to 20.9 in October
• Positive Sentiment: Gold rebounded as Treasury yields eased despite the hot inflation data, helping revive demand for the non-yielding metal and supporting OUNZ. Gold and silver price forecast
• Neutral Sentiment: U.S. initial unemployment claims held steady at 199,000, suggesting a resilient labor market. That stability provides neither a strong recession hedge nor a clear reason for the Fed to change course. Gold holding its ground as U.S. labor market remains steady
• Negative Sentiment: Hotter-than-expected consumer and producer inflation increased expectations for further Fed tightening. Higher yields and a stronger dollar raise the opportunity cost of holding gold, pressuring OUNZ. Gold Lost $100 an Ounce in Hours After the Inflation Report
• Negative Sentiment: Producer prices rose much more than expected, reinforcing concerns that inflation may remain persistent and that interest rates could stay higher for longer. Gold has consequently struggled to hold key support levels. Gold Faces Fresh Inflation Test as PPI Jumps and Rates Stay in Focus

VanEck Merk Gold ETF Trading Up 1.2%

Shares of OUNZ stock traded up $0.48 during trading hours on Thursday, hitting $39.88. The company’s stock had a trading volume of 243,704 shares, compared to its average volume of 1,152,511. The business has a fifty day moving average of $41.68 and a 200-day moving average of $42.02. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 6.97 and a beta of 0.18. VanEck Merk Gold ETF has a twelve month low of $37.69 and a twelve month high of $53.35.

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.