VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Gap Down – Here’s Why

VanEck Gold Miners ETF (NYSEARCA:GDX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $50.53, but opened at $49.43. VanEck Gold Miners ETF shares last traded at $50.01, with a volume of 2,400,097 shares.

VanEck Gold Miners ETF Price Performance

The stock’s fifty day moving average price is $47.44 and its 200-day moving average price is $41.48. The firm has a market cap of $15.11 billion, a PE ratio of 19.65 and a beta of 0.57.

Institutional Trading of VanEck Gold Miners ETF

Hedge funds have recently bought and sold shares of the business. Rafferty Asset Management LLC grew its holdings in shares of VanEck Gold Miners ETF by 33.7% in the fourth quarter. Rafferty Asset Management LLC now owns 9,282,123 shares of the exchange traded fund’s stock valued at $314,757,000 after purchasing an additional 2,342,211 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of VanEck Gold Miners ETF by 7,098.1% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,080,392 shares of the exchange traded fund’s stock valued at $94,731,000 after purchasing an additional 2,051,490 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of VanEck Gold Miners ETF by 1,116.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,144,108 shares of the exchange traded fund’s stock worth $72,707,000 after purchasing an additional 1,967,832 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of VanEck Gold Miners ETF during the 4th quarter worth about $64,425,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in VanEck Gold Miners ETF by 3,010.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,938,221 shares of the exchange traded fund’s stock valued at $89,100,000 after buying an additional 1,875,906 shares during the period.

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.