VanEck Gold Miners ETF (NYSEARCA:GDX) Trading Down 6.4% – What’s Next?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s stock price fell 6.4% during mid-day trading on Monday . The company traded as low as $85.76 and last traded at $85.47. 5,511,154 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 22,184,770 shares. The stock had previously closed at $91.29.

VanEck Gold Miners ETF Price Performance

The firm has a 50-day moving average of $78.97 and a 200 day moving average of $67.78. The stock has a market capitalization of $25.73 billion, a price-to-earnings ratio of 21.70 and a beta of 0.55.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC lifted its stake in shares of VanEck Gold Miners ETF by 2.0% during the 1st quarter. CreativeOne Wealth LLC now owns 11,428 shares of the exchange traded fund’s stock worth $525,000 after buying an additional 225 shares during the last quarter. Ieq Capital LLC lifted its position in VanEck Gold Miners ETF by 84.2% during the first quarter. Ieq Capital LLC now owns 21,518 shares of the exchange traded fund’s stock worth $989,000 after acquiring an additional 9,834 shares during the last quarter. Calton & Associates Inc. boosted its holdings in shares of VanEck Gold Miners ETF by 40.2% during the first quarter. Calton & Associates Inc. now owns 53,733 shares of the exchange traded fund’s stock worth $2,470,000 after acquiring an additional 15,407 shares during the period. Focus Partners Advisor Solutions LLC grew its position in shares of VanEck Gold Miners ETF by 17.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 10,285 shares of the exchange traded fund’s stock valued at $473,000 after purchasing an additional 1,502 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of VanEck Gold Miners ETF by 106.2% in 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 purchasing an additional 12,408 shares during the last quarter.

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.