VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price reached a new 52-week high on Thursday . The company traded as high as $52.81 and last traded at $51.91, with a volume of 36567568 shares trading hands. The stock had previously closed at $50.53.

VanEck Gold Miners ETF Stock Performance

The company has a market cap of $16.84 billion, a PE ratio of 21.51 and a beta of 0.84. The company’s 50 day moving average price is $43.44 and its 200-day moving average price is $39.89.

Institutional Trading of VanEck Gold Miners ETF

Several hedge funds have recently made changes to their positions in GDX. Atomi Financial Group Inc. raised its holdings in VanEck Gold Miners ETF by 5.5% during the 4th quarter. Atomi Financial Group Inc. now owns 8,804 shares of the exchange traded fund’s stock valued at $299,000 after acquiring an additional 462 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of VanEck Gold Miners ETF by 12.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,500 shares of the exchange traded fund’s stock valued at $390,000 after purchasing an additional 1,301 shares in the last quarter. Tandem Financial LLC bought a new stake in shares of VanEck Gold Miners ETF during the 4th quarter valued at $7,621,000. Van ECK Associates Corp lifted its holdings in VanEck Gold Miners ETF by 22.6% during the 4th quarter. Van ECK Associates Corp now owns 39,147 shares of the exchange traded fund’s stock worth $1,327,000 after purchasing an additional 7,212 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in VanEck Gold Miners ETF by 26.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,000 shares of the exchange traded fund’s stock worth $1,385,000 after purchasing an additional 8,500 shares during the period.

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.