Pinnacle Wealth Management Group Inc. Reduces Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Pinnacle Wealth Management Group Inc. decreased its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,314 shares of the exchange traded fund’s stock after selling 3,325 shares during the period. VanEck Gold Miners ETF accounts for about 2.0% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 18th biggest position. Pinnacle Wealth Management Group Inc.’s holdings in VanEck Gold Miners ETF were worth $3,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC lifted its position in shares of VanEck Gold Miners ETF by 202.4% during the second quarter. Beacon Capital Management LLC now owns 747 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in VanEck Gold Miners ETF during the 1st quarter worth about $27,000. Cedar Wealth Management LLC boosted its stake in VanEck Gold Miners ETF by 63.4% in the 2nd quarter. Cedar Wealth Management LLC now owns 874 shares of the exchange traded fund’s stock worth $30,000 after purchasing an additional 339 shares during the period. LRI Investments LLC purchased a new position in VanEck Gold Miners ETF during the 1st quarter valued at about $31,000. Finally, Eagle Bay Advisors LLC increased its position in shares of VanEck Gold Miners ETF by 95.8% during the second quarter. Eagle Bay Advisors LLC now owns 1,175 shares of the exchange traded fund’s stock valued at $40,000 after buying an additional 575 shares during the period.

VanEck Gold Miners ETF Trading Up 0.5 %

Shares of GDX stock traded up $0.18 during trading hours on Friday, reaching $40.05. The stock had a trading volume of 12,060,072 shares, compared to its average volume of 22,480,988. The stock’s fifty day simple moving average is $38.65 and its 200 day simple moving average is $36.15. The firm has a market capitalization of $16.01 billion, a PE ratio of 28.03 and a beta of 0.85. VanEck Gold Miners ETF has a 12 month low of $25.67 and a 12 month high of $41.95.

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.