Geneva Partners LLC Cuts Stock Position in VanEck Gold Miners ETF $GDX

Geneva Partners LLC cut its position in VanEck Gold Miners ETF (NYSEARCA:GDX) by 73.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,007 shares of the exchange traded fund’s stock after selling 16,527 shares during the quarter. Geneva Partners LLC’s holdings in VanEck Gold Miners ETF were worth $551,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Morgan Stanley grew its position in shares of 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 buying an additional 90,514 shares during the last quarter. Rafferty Asset Management LLC lifted its position in VanEck Gold Miners ETF by 8.2% during the fourth quarter. Rafferty Asset Management LLC now owns 7,053,592 shares of the exchange traded fund’s stock valued at $604,987,000 after acquiring an additional 534,856 shares during the last quarter. Caisse de depot et placement du Quebec acquired a new stake in VanEck Gold Miners ETF in the fourth quarter valued at approximately $218,971,000. M&T Bank Corp boosted its stake in VanEck Gold Miners ETF by 7,491.6% in the fourth quarter. M&T Bank Corp now owns 2,025,428 shares of the exchange traded fund’s stock valued at $173,721,000 after acquiring an additional 1,998,748 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its stake in VanEck Gold Miners ETF by 68.6% in the first quarter. Meitav Investment House Ltd. now owns 1,211,200 shares of the exchange traded fund’s stock valued at $111,152,000 after acquiring an additional 493,000 shares in the last quarter.

VanEck Gold Miners ETF Trading Down 3.8%

NYSEARCA GDX opened at $75.76 on Wednesday. The firm’s fifty day simple moving average is $84.30 and its two-hundred day simple moving average is $92.49. The firm has a market capitalization of $22.95 billion, a P/E ratio of 21.70 and a beta of 0.65. VanEck Gold Miners ETF has a 12-month low of $50.35 and a 12-month high of $117.18.

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.