Forte Asset Management LLC Invests $2.59 Million in VanEck Gold Miners ETF $GDX

Forte Asset Management LLC bought a new position in VanEck Gold Miners ETF (NYSEARCA:GDX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,190 shares of the exchange traded fund’s stock, valued at approximately $2,587,000.

A number of other hedge funds have also made changes to their positions in the company. Advisory Alpha LLC acquired a new stake in VanEck Gold Miners ETF during the 3rd quarter valued at $455,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in VanEck Gold Miners ETF in the 3rd quarter valued at $848,000. Redhawk Wealth Advisors Inc. boosted its stake in VanEck Gold Miners ETF by 1,433.6% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 94,010 shares of the exchange traded fund’s stock worth $8,063,000 after purchasing an additional 87,880 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in VanEck Gold Miners ETF in the fourth quarter worth $867,000. Finally, Mainstay Capital Management LLC ADV bought a new stake in shares of VanEck Gold Miners ETF during the third quarter worth $1,421,000.

VanEck Gold Miners ETF Stock Performance

Shares of GDX stock opened at $78.43 on Friday. VanEck Gold Miners ETF has a 52 week low of $50.35 and a 52 week high of $117.18. The stock has a market capitalization of $23.69 billion, a PE ratio of 21.70 and a beta of 0.65. The stock’s fifty day moving average is $84.94 and its 200-day moving average is $92.55.

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.