VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – What’s Next?

Shares of VanEck Gold Miners ETF (NYSEARCA:GDX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $53.76 and last traded at $53.48, with a volume of 14276058 shares traded. The stock had previously closed at $50.65.

VanEck Gold Miners ETF Price Performance

The company’s 50-day moving average price is $47.87 and its 200-day moving average price is $41.88. The company has a market cap of $16.24 billion, a P/E ratio of 19.65 and a beta of 0.57.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Financial Connections Group Inc. bought a new position in shares of VanEck Gold Miners ETF in the 4th quarter valued at about $25,000. Roxbury Financial LLC bought a new position in shares of VanEck Gold Miners ETF in the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new position in shares of VanEck Gold Miners ETF in the 1st quarter valued at about $26,000. Investors Research Corp grew its position in shares of VanEck Gold Miners ETF by 57.3% in the 1st quarter. Investors Research Corp now owns 689 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 251 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of VanEck Gold Miners ETF by 100.0% in the 4th quarter. Rothschild Investment LLC now owns 1,000 shares of the exchange traded fund’s stock valued at $34,000 after acquiring an additional 500 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.