Menlo Advisors LLC Lowers Stock Position in VanEck Gold Miners ETF $GDX

Menlo Advisors LLC decreased its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,215 shares of the exchange traded fund’s stock after selling 2,900 shares during the quarter. VanEck Gold Miners ETF accounts for approximately 6.6% of Menlo Advisors LLC’s holdings, making the stock its 5th biggest holding. Menlo Advisors LLC’s holdings in VanEck Gold Miners ETF were worth $12,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GDX. Hurley Capital LLC bought a new stake in VanEck Gold Miners ETF in the first quarter valued at about $26,000. Hoey Investments Inc. lifted its stake in VanEck Gold Miners ETF by 71.0% during the second quarter. Hoey Investments Inc. now owns 513 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 213 shares during the period. Creekmur Asset Management LLC boosted its holdings in VanEck Gold Miners ETF by 147.2% during the second quarter. Creekmur Asset Management LLC now owns 608 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 362 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in VanEck Gold Miners ETF during the second quarter valued at approximately $34,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of VanEck Gold Miners ETF in the 2nd quarter valued at approximately $35,000.

VanEck Gold Miners ETF Trading Up 2.5%

Shares of GDX opened at $72.55 on Friday. The stock has a market cap of $21.79 billion, a PE ratio of 21.70 and a beta of 0.55. VanEck Gold Miners ETF has a 1 year low of $33.42 and a 1 year high of $85.08. The stock has a 50 day simple moving average of $72.79 and a 200-day simple moving average of $59.69.

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.