Stock Traders Buy High Volume of Put Options on VanEck Gold Miners ETF (NYSEARCA:GDX)

VanEck Gold Miners ETF (NYSEARCA:GDX) was the recipient of some unusual options trading on Wednesday. Traders bought 260,624 put options on the stock. This is an increase of approximately 97% compared to the average daily volume of 132,385 put options.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Several hedge funds and other institutional investors have recently made changes to their positions in GDX. Hurley Capital LLC acquired a new stake in shares of VanEck Gold Miners ETF in the first quarter valued at approximately $26,000. Hoey Investments Inc. grew its position in VanEck Gold Miners ETF by 71.0% in the second quarter. Hoey Investments Inc. now owns 513 shares of the exchange traded fund’s stock worth $27,000 after acquiring an additional 213 shares during the period. Creekmur Asset Management LLC grew its position in VanEck Gold Miners ETF by 147.2% in the second quarter. Creekmur Asset Management LLC now owns 608 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 362 shares during the period. RMG Wealth Management LLC purchased a new position in VanEck Gold Miners ETF in the second quarter worth approximately $34,000. Finally, First Command Advisory Services Inc. purchased a new position in VanEck Gold Miners ETF in the second quarter worth approximately $35,000.

VanEck Gold Miners ETF Stock Performance

NYSEARCA:GDX opened at $79.15 on Thursday. VanEck Gold Miners ETF has a one year low of $33.42 and a one year high of $79.49. The stock has a market cap of $23.04 billion, a PE ratio of 21.70 and a beta of 0.77. The stock has a 50 day moving average price of $65.63 and a 200 day moving average price of $55.35.

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.