VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Gap Down – Here’s Why

VanEck Gold Miners ETF (NYSEARCA:GDX) gapped down before the market opened on Monday . The stock had previously closed at $38.28, but opened at $36.99. VanEck Gold Miners ETF shares last traded at $37.06, with a volume of 3,673,555 shares.

VanEck Gold Miners ETF Stock Performance

The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85. The business has a 50-day moving average of $39.79 and a 200-day moving average of $37.57.

Institutional Trading of VanEck Gold Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC boosted its stake 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 buying an additional 500 shares during the period. LRI Investments LLC purchased a new position in shares of VanEck Gold Miners ETF in the 1st quarter valued at approximately $28,000. Cedar Wealth Management LLC increased its holdings in shares of VanEck Gold Miners ETF by 63.4% in the second quarter. Cedar Wealth Management LLC now owns 874 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 339 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of VanEck Gold Miners ETF by 53.0% during the third quarter. Aptus Capital Advisors LLC now owns 950 shares of the exchange traded fund’s stock worth $38,000 after purchasing an additional 329 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its stake 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 worth $40,000 after purchasing an additional 575 shares during the last quarter.

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.