VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Gap Down – What’s Next?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.62, but opened at $50.92. VanEck Gold Miners ETF shares last traded at $50.78, with a volume of 7,435,469 shares trading hands.

VanEck Gold Miners ETF Trading Down 3.6%

The business has a fifty day moving average of $50.42 and a 200-day moving average of $43.95. The firm has a market cap of $15.54 billion, a PE ratio of 21.70 and a beta of 0.77.

Institutional Investors Weigh In On VanEck Gold Miners ETF

A number of institutional investors and hedge funds have recently modified their holdings of GDX. Hurley Capital LLC bought a new position in shares of VanEck Gold Miners ETF in the first quarter worth $26,000. Investors Research Corp increased its holdings in shares of VanEck Gold Miners ETF by 57.3% in the first quarter. Investors Research Corp now owns 689 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 251 shares during the period. Millstone Evans Group LLC bought a new stake in shares of VanEck Gold Miners ETF in the 4th quarter valued at about $34,000. Elequin Capital LP purchased a new stake in VanEck Gold Miners ETF during the 4th quarter valued at about $39,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in VanEck Gold Miners ETF during the 4th quarter valued at about $41,000.

VanEck Gold Miners ETF Company 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.