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

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $111.48 and last traded at $112.1760, with a volume of 4734083 shares traded. The stock had previously closed at $107.02.

VanEck Gold Miners ETF Price Performance

The firm has a market capitalization of $33.34 billion, a PE ratio of 21.70 and a beta of 0.55. The company has a 50-day moving average price of $87.25 and a 200-day moving average price of $73.63.

Hedge Funds Weigh In On VanEck Gold Miners ETF

A number of institutional investors have recently modified their holdings of the company. New Republic Capital LLC purchased a new stake in VanEck Gold Miners ETF in the 3rd quarter worth approximately $29,000. Creekmur Asset Management LLC boosted 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 worth $32,000 after purchasing an additional 362 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of VanEck Gold Miners ETF by 45.0% in the third quarter. Highline Wealth Partners LLC now owns 435 shares of the exchange traded fund’s stock valued at $33,000 after purchasing an additional 135 shares during the period. RMG Wealth Management LLC acquired a new position in VanEck Gold Miners ETF in the second quarter valued at $34,000. Finally, First Command Advisory Services Inc. acquired a new position in VanEck Gold Miners ETF in the second quarter valued at $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.