Financial Advocates Investment Management Increases Stake in VanEck Gold Miners ETF (NYSEARCA:GDX)

Financial Advocates Investment Management raised its position in VanEck Gold Miners ETF (NYSEARCA:GDX) by 209.1% in the 4th quarter, Holdings Channel reports. The fund owned 27,961 shares of the exchange traded fund’s stock after acquiring an additional 18,915 shares during the period. Financial Advocates Investment Management’s holdings in VanEck Gold Miners ETF were worth $948,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in VanEck Gold Miners ETF by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 9,527,798 shares of the exchange traded fund’s stock valued at $379,397,000 after purchasing an additional 294,034 shares during the period. Quadrature Capital Ltd purchased a new position in shares of VanEck Gold Miners ETF during the 3rd quarter worth approximately $76,065,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of VanEck Gold Miners ETF by 70.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,839,319 shares of the exchange traded fund’s stock valued at $73,242,000 after buying an additional 760,722 shares during the period. Stifel Financial Corp lifted its holdings in shares of VanEck Gold Miners ETF by 6.9% in the 3rd quarter. Stifel Financial Corp now owns 1,300,414 shares of the exchange traded fund’s stock valued at $51,783,000 after buying an additional 84,471 shares during the period. Finally, Vanderbilt University boosted its stake in shares of VanEck Gold Miners ETF by 1.2% in the fourth quarter. Vanderbilt University now owns 1,098,305 shares of the exchange traded fund’s stock valued at $37,244,000 after buying an additional 12,675 shares in the last quarter.

VanEck Gold Miners ETF Stock Performance

NYSEARCA:GDX opened at $40.86 on Friday. VanEck Gold Miners ETF has a 1 year low of $25.67 and a 1 year high of $44.22. The stock has a fifty day moving average price of $36.73 and a two-hundred day moving average price of $38.06. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85.

About VanEck Gold Miners ETF

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.