VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Up 4.6% – Should You Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s stock price was up 4.6% on Thursday . The company traded as high as $47.10 and last traded at $47.08. Approximately 9,366,046 shares were traded during trading, a decline of 54% from the average daily volume of 20,523,141 shares. The stock had previously closed at $44.99.

VanEck Gold Miners ETF Stock Up 5.4 %

The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 21.51 and a beta of 0.84. The business has a 50-day moving average price of $42.85 and a 200-day moving average price of $39.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDX. JPMorgan Chase & Co. increased its stake in VanEck Gold Miners ETF by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,527,798 shares of the exchange traded fund’s stock valued at $379,397,000 after buying an additional 294,034 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of VanEck Gold Miners ETF by 33.7% during the 4th quarter. Rafferty Asset Management LLC now owns 9,282,123 shares of the exchange traded fund’s stock valued at $314,757,000 after acquiring an additional 2,342,211 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of VanEck Gold Miners ETF by 68.7% in the fourth quarter. Two Sigma Investments LP now owns 3,851,200 shares of the exchange traded fund’s stock worth $130,594,000 after acquiring an additional 1,567,800 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of VanEck Gold Miners ETF by 1,116.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,144,108 shares of the exchange traded fund’s stock worth $72,707,000 after acquiring an additional 1,967,832 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of VanEck Gold Miners ETF during the fourth quarter worth $64,425,000.

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.