VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 52-Week High – Time to Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX) hit a new 52-week high on Monday . The stock traded as high as $96.38 and last traded at $96.4480, with a volume of 4658141 shares changing hands. The stock had previously closed at $92.56.

VanEck Gold Miners ETF Stock Performance

The company has a market capitalization of $29.00 billion, a price-to-earnings ratio of 21.70 and a beta of 0.55. The company has a 50 day moving average price of $82.09 and a 200 day moving average price of $70.28.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Hoey Investments Inc. raised its stake in VanEck Gold Miners ETF by 71.0% during the 2nd quarter. Hoey Investments Inc. now owns 513 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 213 shares during the period. New Republic Capital LLC acquired a new stake in shares of VanEck Gold Miners ETF in the third quarter worth $29,000. Creekmur Asset Management LLC grew its holdings in shares of 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 buying an additional 362 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in shares of VanEck Gold Miners ETF by 45.0% during the third quarter. Highline Wealth Partners LLC now owns 435 shares of the exchange traded fund’s stock valued at $33,000 after buying an additional 135 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in VanEck Gold Miners ETF during the second quarter valued at $34,000.

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.