VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 52-Week High – What’s Next?

Shares of VanEck Gold Miners ETF (NYSEARCA:GDX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $42.20 and last traded at $42.19, with a volume of 1342441 shares traded. The stock had previously closed at $41.49.

VanEck Gold Miners ETF Stock Performance

The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85. The company has a 50 day moving average price of $39.24 and a 200 day moving average price of $36.53.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its stake in shares of VanEck Gold Miners ETF by 202.4% in the second quarter. Beacon Capital Management LLC now owns 747 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 500 shares during the period. LRI Investments LLC acquired a new position in shares of VanEck Gold Miners ETF in the first quarter worth $28,000. Cedar Wealth Management LLC increased its position in shares of VanEck Gold Miners ETF by 63.4% during the second quarter. Cedar Wealth Management LLC now owns 874 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 339 shares during the period. Eagle Bay Advisors LLC increased its position in shares of VanEck Gold Miners ETF by 95.8% during the second quarter. Eagle Bay Advisors LLC now owns 1,175 shares of the exchange traded fund’s stock worth $40,000 after acquiring an additional 575 shares during the period. Finally, Studio Investment Management LLC boosted its holdings in VanEck Gold Miners ETF by 51.4% in the second quarter. Studio Investment Management LLC now owns 1,202 shares of the exchange traded fund’s stock valued at $41,000 after purchasing an additional 408 shares during the period.

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.