VanEck Gold Miners ETF (NYSEARCA:GDX) Sets New 12-Month High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX) shares reached a new 52-week high on Thursday . The stock traded as high as $114.10 and last traded at $113.89, with a volume of 18307463 shares traded. The stock had previously closed at $111.16.

VanEck Gold Miners ETF Stock Performance

The stock has a 50 day moving average of $97.66 and a 200 day moving average of $81.49. The stock has a market capitalization of $34.75 billion, a P/E ratio of 21.70 and a beta of 0.55.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of VanEck Gold Miners ETF by 106.2% during the first quarter. AQR Capital Management LLC now owns 24,088 shares of the exchange traded fund’s stock valued at $1,107,000 after acquiring an additional 12,408 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of VanEck Gold Miners ETF in the second quarter valued at $227,000. Brighton Jones LLC boosted its position in shares of VanEck Gold Miners ETF by 46.7% in the second quarter. Brighton Jones LLC now owns 6,600 shares of the exchange traded fund’s stock worth $344,000 after buying an additional 2,102 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of VanEck Gold Miners ETF by 10.0% during the second quarter. Wealthfront Advisers LLC now owns 54,450 shares of the exchange traded fund’s stock valued at $2,835,000 after buying an additional 4,964 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in VanEck Gold Miners ETF by 4.7% during the second quarter. Envestnet Asset Management Inc. now owns 741,118 shares of the exchange traded fund’s stock valued at $38,582,000 after buying an additional 33,088 shares during the period.

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.