VanEck Gold Miners ETF $GDX Stock Position Reduced by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its position in VanEck Gold Miners ETF (NYSEARCA:GDX) by 28.8% in the third quarter, Holdings Channel.com reports. The fund owned 16,749 shares of the exchange traded fund’s stock after selling 6,777 shares during the period. Financial Advocates Investment Management’s holdings in VanEck Gold Miners ETF were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in VanEck Gold Miners ETF by 30.0% during the second quarter. Rafferty Asset Management LLC now owns 6,511,070 shares of the exchange traded fund’s stock valued at $338,966,000 after purchasing an additional 1,503,884 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of VanEck Gold Miners ETF by 766.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,977,932 shares of the exchange traded fund’s stock valued at $207,091,000 after buying an additional 4,574,598 shares during the period. Slate Path Capital LP bought a new stake in shares of VanEck Gold Miners ETF during the 2nd quarter valued at about $123,070,000. Pureheart Capital Pte Ltd. grew its position in shares of VanEck Gold Miners ETF by 1.4% during the 2nd quarter. Pureheart Capital Pte Ltd. now owns 1,339,000 shares of the exchange traded fund’s stock valued at $69,708,000 after buying an additional 19,000 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in VanEck Gold Miners ETF by 99.1% during the second quarter. Teacher Retirement System of Texas now owns 1,306,000 shares of the exchange traded fund’s stock worth $67,990,000 after acquiring an additional 650,000 shares during the period.

VanEck Gold Miners ETF Stock Down 7.3%

Shares of GDX stock opened at $98.28 on Friday. The company has a market cap of $29.99 billion, a P/E ratio of 21.70 and a beta of 0.55. The business has a 50 day moving average of $93.65 and a two-hundred day moving average of $78.10. VanEck Gold Miners ETF has a 52 week low of $38.58 and a 52 week high of $113.50.

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.