VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 1-Year High – Here’s Why

VanEck Gold Miners ETF (NYSEARCA:GDX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $45.65 and last traded at $45.44, with a volume of 2219867 shares changing hands. The stock had previously closed at $44.67.

VanEck Gold Miners ETF Stock Up 2.4 %

The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 20.34 and a beta of 0.95. The business has a 50 day moving average of $40.93 and a 200 day moving average of $39.15.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Rafferty Asset Management LLC lifted its position in VanEck Gold Miners ETF by 33.7% during the fourth quarter. Rafferty Asset Management LLC now owns 9,282,123 shares of the exchange traded fund’s stock worth $314,757,000 after buying an additional 2,342,211 shares during the period. Proficio Capital Partners LLC increased its stake in shares of VanEck Gold Miners ETF by 1,116.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,144,108 shares of the exchange traded fund’s stock valued at $72,707,000 after acquiring an additional 1,967,832 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of VanEck Gold Miners ETF during the 3rd quarter worth about $76,065,000. Raymond James Financial Inc. acquired a new stake in shares of VanEck Gold Miners ETF in the fourth quarter worth approximately $64,425,000. Finally, Strategic Financial Concepts LLC grew its holdings in VanEck Gold Miners ETF by 3,704.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,819,255 shares of the exchange traded fund’s stock valued at $61,691,000 after purchasing an additional 1,771,440 shares during the period.

VanEck Gold Miners ETF Company Profile

The Fund seeks to match as closely as possible the price and yield performance of the AMEX Gold Miners Index. The Fund, utilizing a passive or indexing investment approach, attempts to approximate the investment performance of the Index by investing in a portfolio of stocks that generally replicate the Index.