Fifth Third Bancorp Makes New $1 Million Investment in VanEck Merk Gold ETF $OUNZ

Fifth Third Bancorp bought a new position in VanEck Merk Gold ETF (NYSEARCA:OUNZ) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 22,288 shares of the company’s stock, valued at approximately $1,004,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Walkner Condon Financial Advisors LLC lifted its stake 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 buying an additional 229 shares in 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 acquiring an additional 285 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in VanEck Merk Gold ETF by 3.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,843 shares of the company’s stock valued at $408,000 after acquiring an additional 364 shares during the period. Traphagen Investment Advisors LLC lifted its position in shares of VanEck Merk Gold ETF by 6.2% during the fourth quarter. Traphagen Investment Advisors LLC now owns 6,678 shares of the company’s stock worth $277,000 after acquiring an additional 392 shares in the last quarter. Finally, Invst LLC lifted its position in shares of 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 acquiring an additional 400 shares in the last quarter.

More VanEck Merk Gold ETF News

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

• Positive Sentiment: Gold continues to hold key support near $4,000, and some analysts say that could mark an inflection point if buying momentum improves. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports rose to a fresh two-year high, signaling stronger physical demand as lower prices make bullion more attractive. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Gold has rebounded at times on falling Treasury yields and weaker real-rate pressure, which tends to improve the appeal of non-yielding assets like gold. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: Gold remains supported by the view that investors should keep at least a modest allocation to the metal, reinforcing long-term demand. Investors should still hold a modest amount of gold – BlackRock’s Koesterich
• Neutral Sentiment: Gold is still range-bound overall, with analysts noting that resilient U.S. economic data, higher rates, and a stronger dollar are limiting upside and creating a mixed near-term backdrop. Gold stuck in neutral as S&P Global highlights healthy US PMI activity
• Negative Sentiment: Earlier weakness in gold came from higher Treasury yields, a firmer U.S. dollar, and oil-price volatility, which pressured precious metals and may continue to cap OUNZ’s gains. Gold falls as oil spike, higher yields pressure metals – Kitco PM Report
• Negative Sentiment: Several market reports say gold has struggled to sustain rallies above $4,100, suggesting the ETF could remain pressured unless bullion breaks decisively higher. Investors should still hold a modest amount of gold – BlackRock’s Koesterich

VanEck Merk Gold ETF Price Performance

VanEck Merk Gold ETF stock opened at $38.97 on Monday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 6.97 and a beta of 0.17. VanEck Merk Gold ETF has a one year low of $31.48 and a one year high of $53.35. The business has a fifty day moving average price of $40.66 and a 200-day moving average price of $44.40.

VanEck Merk Gold ETF 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.