VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 1-Year High – Time to Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX) reached a new 52-week high during trading on Friday . The stock traded as high as $91.57 and last traded at $91.2710, with a volume of 4838499 shares traded. The stock had previously closed at $89.70.

VanEck Gold Miners ETF Stock Performance

The stock has a 50-day moving average price of $78.97 and a two-hundred day moving average price of $67.67. The stock has a market capitalization of $27.41 billion, a PE ratio of 21.70 and a beta of 0.55.

Hedge Funds Weigh In On VanEck Gold Miners ETF

A number of hedge funds have recently modified their holdings of the company. New Republic Capital LLC bought a new stake in VanEck Gold Miners ETF during the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC grew its holdings in VanEck Gold Miners ETF by 45.0% during the 3rd quarter. Highline Wealth Partners LLC now owns 435 shares of the exchange traded fund’s stock valued at $33,000 after buying an additional 135 shares in the last quarter. Family Management Corp bought a new stake in shares of VanEck Gold Miners ETF during the third quarter valued at approximately $38,000. Hoey Investments Inc. lifted its holdings in shares of 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 buying an additional 213 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in shares of VanEck Gold Miners ETF by 162.5% during the third quarter. Tradewinds Capital Management LLC now owns 525 shares of the exchange traded fund’s stock worth $40,000 after acquiring an additional 325 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.