Sanctuary Advisors LLC Sells 15,150 Shares of VanEck Merk Gold ETF $OUNZ

Sanctuary Advisors LLC reduced its position in VanEck Merk Gold ETF (NYSEARCA:OUNZ) by 5.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 252,292 shares of the company’s stock after selling 15,150 shares during the period. Sanctuary Advisors LLC’s holdings in VanEck Merk Gold ETF were worth $11,366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sigma Planning Corp lifted its stake in shares of VanEck Merk Gold ETF by 19.0% during the first quarter. Sigma Planning Corp now owns 57,808 shares of the company’s stock valued at $2,604,000 after acquiring an additional 9,219 shares during the period. Retirement Planning Group LLC acquired a new stake in VanEck Merk Gold ETF in the first quarter worth about $352,000. Procyon Advisors LLC increased its position in VanEck Merk Gold ETF by 75.9% in the first quarter. Procyon Advisors LLC now owns 59,762 shares of the company’s stock worth $2,692,000 after purchasing an additional 25,784 shares during the period. Castleview Partners LLC raised its holdings in VanEck Merk Gold ETF by 8.2% during the 1st quarter. Castleview Partners LLC now owns 39,318 shares of the company’s stock worth $1,771,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its position in VanEck Merk Gold ETF by 26.6% during the 1st quarter. Valmark Advisers Inc. now owns 52,471 shares of the company’s stock valued at $2,364,000 after purchasing an additional 11,029 shares during the period.

VanEck Merk Gold ETF Trading Down 1.9%

VanEck Merk Gold ETF stock opened at $38.24 on Friday. The company has a market cap of $2.46 billion, a PE ratio of 6.97 and a beta of 0.17. VanEck Merk Gold ETF has a 1 year low of $31.48 and a 1 year high of $53.35. The company’s 50-day moving average is $41.38 and its two-hundred day moving average is $44.51.

Key Stories Impacting VanEck Merk Gold ETF

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

• Neutral Sentiment: Some analysts say the recent pullback is only a correction and that the longer-term gold bull market remains intact. Gold’s Pullback Doesn’t Mean the Bull Market Is Over
• Neutral Sentiment: Fidelity’s Ian Samson said the firm expects to move back to overweight gold later, reinforcing the view that institutional demand may return if the macro backdrop weakens. We have a plan to go overweight gold again
• Negative Sentiment: Gold prices fell as stronger U.S. retail sales, better-than-expected Philly Fed manufacturing data, and lower jobless claims reduced expectations for near-term Fed easing. Gold and silver fall as Fed-rate relief fades after data
• Negative Sentiment: Technical commentary from multiple outlets points to weakening momentum and possible further downside if support levels fail. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?

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.