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

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price hit a new 52-week high on Monday . The company traded as high as $76.45 and last traded at $76.41, with a volume of 687723 shares. The stock had previously closed at $74.68.

VanEck Gold Miners ETF Stock Performance

The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 21.70 and a beta of 0.77. The business has a fifty day moving average price of $61.79 and a 200 day moving average price of $53.67.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Several large investors have recently modified their holdings of the stock. Hoey Investments Inc. raised its holdings in shares of VanEck Gold Miners ETF by 71.0% during the second quarter. Hoey Investments Inc. now owns 513 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 213 shares during the last quarter. Hurley Capital LLC bought a new stake in VanEck Gold Miners ETF during the first quarter valued at about $26,000. Creekmur Asset Management LLC boosted its holdings in VanEck Gold Miners ETF by 147.2% during the second quarter. Creekmur Asset Management LLC now owns 608 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 362 shares during the period. RMG Wealth Management LLC acquired a new stake in shares of VanEck Gold Miners ETF during the second quarter worth approximately $34,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of VanEck Gold Miners ETF in the second quarter valued at approximately $35,000.

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.