Baker Avenue Asset Management LP Makes New $219,000 Investment in VanEck Gold Miners ETF (NYSEARCA:GDX)

Baker Avenue Asset Management LP bought a new position in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,762 shares of the exchange traded fund’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GDX. Orion Portfolio Solutions LLC grew its stake in shares of VanEck Gold Miners ETF by 14.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 15,264 shares of the exchange traded fund’s stock worth $518,000 after buying an additional 1,899 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in shares of VanEck Gold Miners ETF by 5.8% during the fourth quarter. Arete Wealth Advisors LLC now owns 10,618 shares of the exchange traded fund’s stock valued at $361,000 after acquiring an additional 583 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of VanEck Gold Miners ETF during the fourth quarter valued at $213,000. Aviva PLC bought a new position in shares of VanEck Gold Miners ETF during the fourth quarter valued at $556,000. Finally, Wedbush Securities Inc. raised its stake in shares of VanEck Gold Miners ETF by 7.7% during the fourth quarter. Wedbush Securities Inc. now owns 21,283 shares of the exchange traded fund’s stock valued at $722,000 after acquiring an additional 1,530 shares during the last quarter.

VanEck Gold Miners ETF Stock Performance

GDX stock opened at $52.45 on Monday. The company has a market capitalization of $15.35 billion, a P/E ratio of 21.70 and a beta of 0.77. The company has a fifty day moving average price of $52.32 and a 200-day moving average price of $47.02. VanEck Gold Miners ETF has a 52-week low of $33.42 and a 52-week high of $54.78.

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.