Echo45 Advisors LLC Cuts Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Echo45 Advisors LLC trimmed its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 6.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,464 shares of the exchange traded fund’s stock after selling 3,488 shares during the quarter. VanEck Gold Miners ETF comprises approximately 1.5% of Echo45 Advisors LLC’s portfolio, making the stock its 18th biggest position. Echo45 Advisors LLC’s holdings in VanEck Gold Miners ETF were worth $2,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in VanEck Gold Miners ETF by 22.6% in the fourth quarter. Van ECK Associates Corp now owns 39,147 shares of the exchange traded fund’s stock valued at $1,327,000 after purchasing an additional 7,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in VanEck Gold Miners ETF by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,000 shares of the exchange traded fund’s stock valued at $1,385,000 after purchasing an additional 8,500 shares in the last quarter. Principal Securities Inc. boosted its holdings in VanEck Gold Miners ETF by 7.1% in the fourth quarter. Principal Securities Inc. now owns 12,329 shares of the exchange traded fund’s stock valued at $418,000 after purchasing an additional 819 shares in the last quarter. Panview Capital Ltd acquired a new position in VanEck Gold Miners ETF in the fourth quarter valued at approximately $28,427,000. Finally, Cadence Wealth Management LLC acquired a new position in VanEck Gold Miners ETF in the fourth quarter valued at approximately $19,267,000.

VanEck Gold Miners ETF Stock Up 1.0%

Shares of GDX opened at $51.94 on Thursday. The stock has a 50 day moving average price of $49.06 and a 200 day moving average price of $42.65. The company has a market capitalization of $16.01 billion, a price-to-earnings ratio of 21.14 and a beta of 0.55. VanEck Gold Miners ETF has a 52-week low of $32.84 and a 52-week high of $54.62.

VanEck Gold Miners ETF 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.