Cadence Wealth Management LLC Makes New Investment in VanEck Gold Miners ETF (NYSEARCA:GDX)

Cadence Wealth Management LLC purchased a new position in VanEck Gold Miners ETF (NYSEARCA:GDX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 628,558 shares of the exchange traded fund’s stock, valued at approximately $21,327,000. VanEck Gold Miners ETF makes up 14.9% of Cadence Wealth Management LLC’s holdings, making the stock its 2nd largest holding. Cadence Wealth Management LLC owned 0.16% of VanEck Gold Miners ETF as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Beacon Capital Management LLC boosted its holdings in shares of VanEck Gold Miners ETF by 202.4% during the 2nd quarter. Beacon Capital Management LLC now owns 747 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of VanEck Gold Miners ETF during the 1st quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of VanEck Gold Miners ETF during the 1st quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter valued at about $32,000. Finally, Family Asset Management LLC bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter valued at about $38,000.

VanEck Gold Miners ETF Trading Down 0.7 %

Shares of NYSEARCA:GDX traded down $0.26 during trading on Friday, reaching $38.62. The company’s stock had a trading volume of 13,171,492 shares, compared to its average volume of 22,847,852. VanEck Gold Miners ETF has a 12 month low of $25.62 and a 12 month high of $39.97. The firm’s 50 day simple moving average is $36.93 and its two-hundred day simple moving average is $33.90. The stock has a market capitalization of $15.44 billion, a PE ratio of 28.03 and a beta of 0.85.

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.