VanEck Gold Miners ETF (NYSEARCA:GDX) Sees Large Decrease in Short Interest

VanEck Gold Miners ETF (NYSEARCA:GDX) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 35,988,049 shares, a decline of 18.4% from the March 15th total of 44,081,354 shares. Currently, 11.6% of the shares of the company are sold short. Based on an average daily trading volume, of 36,473,939 shares, the days-to-cover ratio is currently 1.0 days.

VanEck Gold Miners ETF Trading Up 2.7%

Shares of NYSEARCA:GDX traded up $2.68 during midday trading on Friday, reaching $100.34. The company had a trading volume of 21,355,355 shares, compared to its average volume of 28,447,924. The company’s 50 day moving average price is $98.52 and its 200 day moving average price is $89.34. The stock has a market cap of $31.16 billion, a P/E ratio of 21.70 and a beta of 0.71. VanEck Gold Miners ETF has a 52-week low of $45.10 and a 52-week high of $117.18.

Hedge Funds Weigh In On VanEck Gold Miners ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CENTRAL TRUST Co boosted its holdings in shares of VanEck Gold Miners ETF by 5.2% in the 1st quarter. CENTRAL TRUST Co now owns 21,283 shares of the exchange traded fund’s stock worth $1,953,000 after buying an additional 1,050 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of VanEck Gold Miners ETF by 65.0% in the 1st quarter. Cidel Asset Management Inc. now owns 18,504 shares of the exchange traded fund’s stock worth $1,698,000 after buying an additional 7,287 shares during the last quarter. Krilogy Financial LLC boosted its holdings in shares of VanEck Gold Miners ETF by 6.6% in the 1st quarter. Krilogy Financial LLC now owns 46,940 shares of the exchange traded fund’s stock worth $4,584,000 after buying an additional 2,908 shares during the last quarter. First City Capital Management Inc. boosted its holdings in shares of VanEck Gold Miners ETF by 10.7% in the 1st quarter. First City Capital Management Inc. now owns 5,977 shares of the exchange traded fund’s stock worth $548,000 after buying an additional 580 shares during the last quarter. Finally, XML Financial LLC boosted its holdings in shares of VanEck Gold Miners ETF by 15.3% in the 1st quarter. XML Financial LLC now owns 5,095 shares of the exchange traded fund’s stock worth $468,000 after buying an additional 675 shares during the last quarter.

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.