VanEck Merk Gold ETF (NYSEARCA:OUNZ) Stock Crosses Below 200-Day Moving Average – Should You Sell?

VanEck Merk Gold ETF (NYSEARCA:OUNZ) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $44.80 and traded as low as $39.24. VanEck Merk Gold ETF shares last traded at $39.25, with a volume of 1,192,151 shares trading hands.

VanEck Merk Gold ETF News Summary

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

• Negative Sentiment: Gold prices fell sharply after the latest inflation report and persistent high yields reinforced “higher-for-longer” Fed expectations, pressuring bullion-linked funds like OUNZ. Gold, silver fall as CPI keeps Fed pressure on – Kitco AM Report
• Negative Sentiment: Gold broke below key technical support, including the 200-day moving average, increasing the risk of further downside and additional ETF outflows. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Neutral Sentiment: Some analysts still see long-term upside for gold, arguing the current correction may be part of a broader bull market, but that thesis is not helping near-term trading. Gold price could triple if 1970s bull market pattern holds, says Jeff Clark

VanEck Merk Gold ETF Stock Performance

The stock has a market cap of $2.48 billion, a PE ratio of 6.97 and a beta of 0.14. The company’s 50 day simple moving average is $44.34 and its 200 day simple moving average is $44.80.

Institutional Investors Weigh In On VanEck Merk Gold ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new stake in shares of VanEck Merk Gold ETF during the 4th quarter worth approximately $37,000. Parallel Advisors LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 3rd quarter worth approximately $38,000. Scarborough Advisors LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 1st quarter worth approximately $58,000. Brown Brothers Harriman & Co. purchased a new stake in shares of VanEck Merk Gold ETF during the 4th quarter worth approximately $59,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 3rd quarter worth approximately $56,000.

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.