VanEck Merk Gold ETF (NYSEARCA:OUNZ) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $42.32 and traded as low as $39.87. VanEck Merk Gold ETF shares last traded at $40.11, with a volume of 668,418 shares.

VanEck Merk Gold ETF News Roundup

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

• Positive Sentiment: September payroll growth of just 29,000 reduced expectations for an October Federal Reserve rate hike, initially pushing Treasury yields lower and supporting gold through increased safe-haven demand. Gold, silver rise as weak payrolls cut Fed-hike odds
• Neutral Sentiment: That initial rally failed to hold after gold could not break resistance near $4,215-$4,230 per ounce. Analysts are watching support around $4,103-$4,111, with a break potentially extending the correction, while stronger support is seen near $4,000. Gold price forecast: weak payrolls bounce fails
• Negative Sentiment: Gold and silver declined later in U.S. trading as Treasury yields rebounded, the dollar remained firm and oil-market risks kept inflation concerns elevated. These factors can limit expectations for easier monetary policy and reduce the appeal of non-yielding gold. Metals give back jobs-report bounce
• Negative Sentiment: OUNZ also faces technical selling pressure after its share price crossed below its 200-day moving average, a signal that may encourage additional short-term selling. Broader commentary remains cautious, with elevated yields and a strong dollar threatening gold’s support levels. VanEck Merk Gold ETF stock crosses below 200-day moving average

VanEck Merk Gold ETF Stock Down 0.6%

The stock has a 50 day simple moving average of $41.60 and a 200 day simple moving average of $42.30. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 6.97 and a beta of 0.19.

Hedge Funds Weigh In On VanEck Merk Gold ETF

Large investors have recently modified their holdings of the company. Ferguson Shapiro LLC acquired a new position in VanEck Merk Gold ETF during the second quarter worth $3,042,000. Asset One Wealth Management LLC bought a new position in shares of VanEck Merk Gold ETF in the fourth quarter valued at $33,578,000. Virtu Financial LLC bought a new position in shares of VanEck Merk Gold ETF in the fourth quarter valued at $5,093,000. Sovran Advisors LLC acquired a new position in shares of VanEck Merk Gold ETF during the first quarter valued at about $675,000. Finally, Drake & Associates LLC grew its holdings in shares of VanEck Merk Gold ETF by 7.0% during the fourth quarter. Drake & Associates LLC now owns 481,730 shares of the company’s stock valued at $19,982,000 after buying an additional 31,713 shares during the last quarter.

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.