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

VanEck Gold Miners ETF (NYSEARCA:GDX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $44.32 and last traded at $44.20, with a volume of 1962863 shares traded. The stock had previously closed at $43.64.

VanEck Gold Miners ETF Stock Performance

The company’s 50 day moving average price is $39.88 and its 200-day moving average price is $38.84. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 20.34 and a beta of 0.95.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $379,397,000 after buying an additional 294,034 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of VanEck Gold Miners ETF by 33.7% in 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. Two Sigma Investments LP boosted its holdings in shares of VanEck Gold Miners ETF by 68.7% in the fourth quarter. Two Sigma Investments LP now owns 3,851,200 shares of the exchange traded fund’s stock worth $130,594,000 after buying an additional 1,567,800 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of VanEck Gold Miners ETF by 1,116.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,144,108 shares of the exchange traded fund’s stock worth $72,707,000 after buying an additional 1,967,832 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of VanEck Gold Miners ETF in the third quarter worth about $76,065,000.

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.