VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – What’s Next?

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

VanEck Gold Miners ETF Trading Up 1.8%

The stock has a market capitalization of $27.42 billion, a P/E ratio of 21.70 and a beta of 0.55. The company’s 50-day moving average is $78.72 and its two-hundred day moving average is $67.28.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC lifted its stake in shares of VanEck Gold Miners ETF by 30.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,511,070 shares of the exchange traded fund’s stock worth $338,966,000 after acquiring an additional 1,503,884 shares during the period. JPMorgan Chase & Co. lifted its position in VanEck Gold Miners ETF by 766.7% in the second quarter. JPMorgan Chase & Co. now owns 3,977,932 shares of the exchange traded fund’s stock worth $207,091,000 after purchasing an additional 4,574,598 shares during the period. Slate Path Capital LP acquired a new stake in VanEck Gold Miners ETF in the second quarter worth approximately $123,070,000. Pureheart Capital Pte Ltd. increased its position in shares of VanEck Gold Miners ETF by 1.4% during the 2nd quarter. Pureheart Capital Pte Ltd. now owns 1,339,000 shares of the exchange traded fund’s stock valued at $69,708,000 after purchasing an additional 19,000 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of VanEck Gold Miners ETF by 99.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,306,000 shares of the exchange traded fund’s stock worth $67,990,000 after buying an additional 650,000 shares in the last quarter.

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.