VanEck Gold Miners ETF $GDX is Avalon Capital Management’s 2nd Largest Position

Avalon Capital Management lowered its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 15.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 356,305 shares of the exchange traded fund’s stock after selling 66,633 shares during the period. VanEck Gold Miners ETF comprises approximately 7.3% of Avalon Capital Management’s investment portfolio, making the stock its 2nd largest position. Avalon Capital Management’s holdings in VanEck Gold Miners ETF were worth $30,560,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GDX. M&T Bank Corp lifted its holdings in shares of VanEck Gold Miners ETF by 7,491.6% in the fourth quarter. M&T Bank Corp now owns 2,025,428 shares of the exchange traded fund’s stock valued at $173,721,000 after purchasing an additional 1,998,748 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of VanEck Gold Miners ETF by 30.0% in the second quarter. Rafferty Asset Management LLC now owns 6,511,070 shares of the exchange traded fund’s stock valued at $338,966,000 after purchasing an additional 1,503,884 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in shares of VanEck Gold Miners ETF in the third quarter valued at $70,231,000. Invesco Ltd. purchased a new stake in shares of VanEck Gold Miners ETF in the second quarter valued at $31,236,000. Finally, Rit Capital Partners PLC lifted its holdings in shares of VanEck Gold Miners ETF by 74.7% in the fourth quarter. Rit Capital Partners PLC now owns 1,197,000 shares of the exchange traded fund’s stock valued at $102,679,000 after purchasing an additional 512,000 shares in the last quarter.

VanEck Gold Miners ETF Stock Down 3.5%

GDX opened at $85.00 on Thursday. The stock has a fifty day moving average of $91.40 and a 200-day moving average of $92.72. The firm has a market capitalization of $26.19 billion, a P/E ratio of 21.70 and a beta of 0.61. VanEck Gold Miners ETF has a 12-month low of $50.32 and a 12-month high of $117.18.

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.