In This Story
VanEck Merk Gold ETF (OUNZ+1.70%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements showing an increase in net assets to $1,241,717,488 from $1,018,106,177 at the end of the previous quarter. The increase is attributed to a rise in the value of investments in gold bullion.
The Trust's net asset value per share increased by 12.05% during the quarter, from $23.66 to $26.51. This increase reflects the performance of the price of gold less the expenses of the Trust's operations.
The Trust issued 96,432,048 shares during the quarter while redeeming 679,586 shares. The net increase in shares was primarily due to creations by Authorized Participants.
The Trust's primary objective is to provide investors with an opportunity to invest in gold through shares and to take delivery of physical gold bullion and gold coins in exchange for shares.
The Trust's assets consist principally of gold held on behalf of the Trust in financial institutions for safekeeping. As of October 31, 2024, the Trust held 452,112 ounces of gold.
The Trust's expenses for the quarter were primarily the Sponsor's fees, which are payable at an annualized rate of 0.25% of the Trust's NAV, accrued daily and paid monthly in arrears.
The Trust's NAV increased by 59.16% during the nine months ended October 31, 2024, reflecting a rise in the value of investments in gold bullion.
The Trust does not engage in transactions in foreign currencies or invest in derivative financial instruments or long-term debt instruments.
The Trust maintains disclosure controls and procedures to ensure that information required to be disclosed is recorded, processed, summarized, and reported within specified time periods.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the VanEck Merk Gold ETF quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.