Connective Capital Management LLC Makes New Investment in VanEck Gold Miners ETF $GDX

Connective Capital Management LLC purchased a new position in VanEck Gold Miners ETF (NYSEARCA:GDX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,310 shares of the exchange traded fund’s stock, valued at approximately $541,000. VanEck Gold Miners ETF makes up about 0.3% of Connective Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley grew its position in VanEck Gold Miners ETF by 0.7% in the 4th quarter. Morgan Stanley now owns 12,876,546 shares of the exchange traded fund’s stock worth $1,104,421,000 after purchasing an additional 90,514 shares during the period. Rafferty Asset Management LLC raised its stake in VanEck Gold Miners ETF by 8.2% during the 4th quarter. Rafferty Asset Management LLC now owns 7,053,592 shares of the exchange traded fund’s stock valued at $604,987,000 after buying an additional 534,856 shares during the last quarter. Caisse de depot et placement du Quebec bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter valued at $218,971,000. M&T Bank Corp lifted its holdings in shares of VanEck Gold Miners ETF by 7,491.6% during the 4th quarter. M&T Bank Corp now owns 2,025,428 shares of the exchange traded fund’s stock valued at $173,721,000 after buying an additional 1,998,748 shares during the period. Finally, Rit Capital Partners PLC boosted its stake in shares of VanEck Gold Miners ETF by 74.7% in the 4th quarter. Rit Capital Partners PLC now owns 1,197,000 shares of the exchange traded fund’s stock worth $102,679,000 after buying an additional 512,000 shares during the last quarter.

VanEck Gold Miners ETF Price Performance

GDX stock opened at $82.51 on Friday. VanEck Gold Miners ETF has a 1 year low of $50.32 and a 1 year high of $117.18. The company has a market cap of $25.42 billion, a P/E ratio of 21.70 and a beta of 0.60. The stock’s fifty day moving average price is $89.46 and its 200-day moving average price is $93.01.

VanEck Gold Miners ETF 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.