VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Cross Above 200 Day Moving Average – Time to Sell?

VanEck Gold Miners ETF (NYSEARCA:GDX) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $87.97 and traded as high as $89.43. VanEck Gold Miners ETF shares last traded at $87.89, with a volume of 30,389,321 shares.

VanEck Gold Miners ETF Trading Down 1.2%

The company’s fifty day simple moving average is $91.21 and its 200 day simple moving average is $87.88. The stock has a market capitalization of $26.16 billion, a P/E ratio of 21.70 and a beta of 0.70.

Hedge Funds Weigh In On VanEck Gold Miners ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of VanEck Gold Miners ETF by 11.5% during the first quarter. Bank of America Corp DE now owns 8,345,307 shares of the exchange traded fund’s stock worth $765,849,000 after purchasing an additional 858,716 shares in the last quarter. Bank of Nova Scotia increased its position in shares of VanEck Gold Miners ETF by 282.0% during the 1st quarter. Bank of Nova Scotia now owns 2,692,956 shares of the exchange traded fund’s stock valued at $247,133,000 after purchasing an additional 1,987,920 shares during the last quarter. Meitav Investment House Ltd. raised its holdings in shares of VanEck Gold Miners ETF by 68.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,211,200 shares of the exchange traded fund’s stock valued at $111,152,000 after buying an additional 493,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in VanEck Gold Miners ETF in the 4th quarter worth approximately $101,981,000. Finally, Rockefeller Capital Management L.P. boosted its stake in VanEck Gold Miners ETF by 17.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 967,226 shares of the exchange traded fund’s stock worth $82,959,000 after buying an additional 143,046 shares in the last quarter.

VanEck Gold Miners ETF Company Profile

The Fund seeks to match as closely as possible the price and yield performance of the MarketVector Global 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.