Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Stock Passes Above Fifty Day Moving Average of $21.30

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) crossed 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.

Van Eck Merk Gold Trust Stock Up 0.3 %

The stock has a fifty day moving average of $21.36 and a 200-day moving average of $20.09. The stock has a market cap of $908.87 million, a PE ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Van Eck Merk Gold Trust by 295.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,075 shares of the company’s stock worth $122,000 after buying an additional 4,539 shares during the last quarter. Northwest Financial Advisors acquired a new stake in Van Eck Merk Gold Trust in the fourth quarter valued at about $162,000. Advisory Services Network LLC acquired a new stake in Van Eck Merk Gold Trust in the fourth quarter valued at about $166,000. Principal Securities Inc. acquired a new stake in Van Eck Merk Gold Trust in the fourth quarter valued at about $200,000. Finally, CWM LLC lifted its position in Van Eck Merk Gold Trust by 15.3% in the third quarter. CWM LLC now owns 10,156 shares of the company’s stock valued at $182,000 after purchasing an additional 1,346 shares during the period.

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.