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

Procyon Advisors LLC grew its stake in VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 75.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 59,762 shares of the company’s stock after purchasing an additional 25,784 shares during the period. Procyon Advisors LLC’s holdings in VanEck Merk Gold ETF were worth $2,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Walkner Condon Financial Advisors LLC increased its position in shares of VanEck Merk Gold ETF by 0.5% during the 1st quarter. Walkner Condon Financial Advisors LLC now owns 43,352 shares of the company’s stock valued at $1,951,000 after purchasing an additional 229 shares during the last quarter. Stephens Inc. AR raised its holdings in VanEck Merk Gold ETF by 4.2% during the 4th quarter. Stephens Inc. AR now owns 7,060 shares of the company’s stock valued at $293,000 after buying an additional 285 shares during the period. Kingswood Wealth Advisors LLC lifted its position in VanEck Merk Gold ETF by 3.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,843 shares of the company’s stock worth $408,000 after buying an additional 364 shares during the last quarter. Traphagen Investment Advisors LLC lifted its position in VanEck Merk Gold ETF by 6.2% in the fourth quarter. Traphagen Investment Advisors LLC now owns 6,678 shares of the company’s stock worth $277,000 after buying an additional 392 shares during the last quarter. Finally, Invst LLC boosted its stake in VanEck Merk Gold ETF by 3.1% during the fourth quarter. Invst LLC now owns 13,256 shares of the company’s stock worth $550,000 after buying an additional 400 shares during the period.

VanEck Merk Gold ETF Stock Down 2.6%

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 firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 6.97 and a beta of 0.17. The company has a fifty day moving average of $41.74 and a two-hundred day moving average of $44.61.

More VanEck Merk Gold ETF News

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.