Kovack Advisors Inc. Trims Stock Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Kovack Advisors Inc. lessened its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 34.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,177 shares of the exchange traded fund’s stock after selling 5,878 shares during the period. Kovack Advisors Inc.’s holdings in VanEck Gold Miners ETF were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GDX. Atomi Financial Group Inc. lifted its stake in shares of VanEck Gold Miners ETF by 5.5% during the fourth quarter. Atomi Financial Group Inc. now owns 8,804 shares of the exchange traded fund’s stock valued at $299,000 after buying an additional 462 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of VanEck Gold Miners ETF by 12.8% during 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 buying an additional 1,301 shares during the period. Tandem Financial LLC purchased a new position in shares of VanEck Gold Miners ETF during the fourth quarter valued at approximately $7,621,000. Van ECK Associates Corp lifted its stake in shares of VanEck Gold Miners ETF by 22.6% during the fourth quarter. Van ECK Associates Corp now owns 39,147 shares of the exchange traded fund’s stock valued at $1,327,000 after buying an additional 7,212 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of VanEck Gold Miners ETF by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,000 shares of the exchange traded fund’s stock valued at $1,385,000 after buying an additional 8,500 shares during the period.

VanEck Gold Miners ETF Stock Performance

Shares of GDX opened at $39.72 on Friday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 22.76 and a beta of 0.96. The company’s 50 day simple moving average is $38.04 and its 200 day simple moving average is $38.56. VanEck Gold Miners ETF has a 1 year low of $26.28 and a 1 year high of $44.22.

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.