VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $91.84 and last traded at $91.4170, with a volume of 8783007 shares changing hands. The stock had previously closed at $88.45.

VanEck Gold Miners ETF Price Performance

The firm has a market capitalization of $27.55 billion, a PE ratio of 21.70 and a beta of 0.55. The company has a fifty day moving average of $80.48 and a 200-day moving average of $69.17.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Several large investors have recently made changes to their positions in GDX. Hoey Investments Inc. increased its holdings 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 buying an additional 213 shares during the last quarter. New Republic Capital LLC bought a new stake in VanEck Gold Miners ETF in the third quarter worth approximately $29,000. 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 in the last quarter. Highline Wealth Partners LLC increased its stake in shares of 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 worth $33,000 after purchasing an additional 135 shares during the last quarter. Finally, RMG Wealth Management LLC bought a new position in shares of VanEck Gold Miners ETF during the 2nd quarter valued at $34,000.

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.