Short Interest in VanEck Merk Gold ETF (NYSEARCA:OUNZ) Decreases By 36.6%

VanEck Merk Gold ETF (NYSEARCA:OUNZ) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 466,723 shares, a drop of 36.6% from the April 15th total of 736,636 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 612,229 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On VanEck Merk Gold ETF

Several hedge funds have recently modified their holdings of the stock. Gateway Wealth Partners LLC raised its holdings in shares of VanEck Merk Gold ETF by 121.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 12,882 shares of the company’s stock valued at $580,000 after buying an additional 7,071 shares during the period. Petra Financial Advisors Inc. raised its holdings in shares of VanEck Merk Gold ETF by 1.7% during the 1st quarter. Petra Financial Advisors Inc. now owns 138,452 shares of the company’s stock valued at $6,237,000 after buying an additional 2,379 shares during the period. First Trust Advisors LP purchased a new stake in shares of VanEck Merk Gold ETF during the 1st quarter valued at about $2,373,000. Scarborough Advisors LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 1st quarter valued at about $58,000. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 1st quarter valued at about $1,611,000.

VanEck Merk Gold ETF Stock Performance

Shares of NYSEARCA:OUNZ traded up $0.12 during mid-day trading on Monday, hitting $43.83. 468,503 shares of the company traded hands, compared to its average volume of 1,702,210. The firm has a market cap of $2.77 billion, a P/E ratio of 6.97 and a beta of 0.15. VanEck Merk Gold ETF has a 52-week low of $31.02 and a 52-week high of $53.35. The firm’s 50 day simple moving average is $45.51 and its 200 day simple moving average is $44.36.

VanEck Merk Gold ETF News Summary

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

• Positive Sentiment: Gold rebounded as the U.S. dollar pulled back, giving precious metals some support. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound After Pullback
• Positive Sentiment: Ongoing geopolitical uncertainty around the Strait of Hormuz is keeping safe-haven demand for gold supported. Gold price hold steadies, silver rebounds as Hormuz risk keeps oil, yields in focus – PM Report
• Neutral Sentiment: Gold is holding key technical support, with traders watching whether bulls can reclaim higher resistance levels. Gold (XAUUSD) & Silver Price Forecast: $4,555 Holds — Can Bulls Reclaim $4,670 Resistance?
• Negative Sentiment: Rising Treasury yields, hot inflation data, and expectations for more Fed tightening have pressured gold and reduced hopes for rate cuts. Gold (XAUUSD) Price Forecast: Will Rising Yields Push Gold Toward 52-Week MA
• Negative Sentiment: Gold could face additional headwinds if Fed rate-hike expectations continue to build, since higher rates typically reduce demand for non-interest-bearing assets. Gold Consolidates; May Be Weighed by Fed Rate-Hike Expectations

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.