Drake & Associates LLC Increases Holdings in VanEck Merk Gold ETF $OUNZ

Drake & Associates LLC grew its holdings in shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,730 shares of the company’s stock after buying an additional 31,713 shares during the quarter. VanEck Merk Gold ETF accounts for approximately 4.0% of Drake & Associates LLC’s holdings, making the stock its 11th biggest holding. Drake & Associates LLC owned approximately 0.77% of VanEck Merk Gold ETF worth $19,982,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in VanEck Merk Gold ETF by 22.2% during the first quarter. NewEdge Advisors LLC now owns 19,293 shares of the company’s stock worth $581,000 after acquiring an additional 3,508 shares during the last quarter. Focus Partners Wealth purchased a new stake in VanEck Merk Gold ETF during the first quarter valued at approximately $653,000. XTX Topco Ltd bought a new stake in shares of VanEck Merk Gold ETF in the 2nd quarter valued at approximately $202,000. Main Street Financial Solutions LLC bought a new stake in shares of VanEck Merk Gold ETF in the 2nd quarter valued at approximately $1,290,000. Finally, Raymond James Financial Inc. boosted its holdings in shares of VanEck Merk Gold ETF by 38.4% in the 2nd quarter. Raymond James Financial Inc. now owns 791,392 shares of the company’s stock worth $25,237,000 after purchasing an additional 219,422 shares during the period.

VanEck Merk Gold ETF Stock Performance

Shares of VanEck Merk Gold ETF stock opened at $40.55 on Friday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 6.97 and a beta of 0.14. The stock has a 50 day moving average price of $43.84 and a 200-day moving average price of $44.84. VanEck Merk Gold ETF has a one year low of $31.36 and a one year high of $53.35.

VanEck Merk Gold ETF News Roundup

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

• Negative Sentiment: Gold prices weakened after the Federal Reserve’s hawkish outlook, with traders repricing a “higher-for-longer” rate environment that typically hurts non-yielding assets like gold. Wall Street bears back in control after the Fed’s hawkish outlook, Main Street leans bullish despite gold’s backslide to $4,200/oz
• Negative Sentiment: Spot gold and silver extended losses as the U.S. dollar tested yearly highs, adding pressure to precious metals and by extension to OUNZ. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Technical analysis articles pointed to further downside risk for gold after it failed at key resistance and began testing support zones, suggesting near-term weakness could continue. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?
• Neutral Sentiment: Some longer-term commentary remained supportive for gold, citing inflation risks, fiscal deficits, and central bank buying, but these tailwinds were outweighed today by the Fed and dollar headwinds. Gold’s bull market has room to run as inflation risks, fiscal deficits support prices – Wells Fargo

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.