Stock Traders Buy High Volume of Call Options on VanEck Gold Miners ETF (NYSEARCA:GDX)

VanEck Gold Miners ETF (NYSEARCA:GDX) saw unusually large options trading on Friday. Stock investors acquired 246,008 call options on the stock. This is an increase of 73% compared to the average volume of 141,907 call options.

VanEck Gold Miners ETF Stock Up 2.7%

Shares of GDX traded up $2.70 during midday trading on Friday, reaching $102.55. 20,316,169 shares of the stock were exchanged, compared to its average volume of 25,106,463. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 21.70 and a beta of 0.65. VanEck Gold Miners ETF has a 12-month low of $58.38 and a 12-month high of $117.18. The firm has a 50 day simple moving average of $80.02 and a 200-day simple moving average of $89.23.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequent Planning LLC bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter worth approximately $491,000. Rit Capital Partners PLC boosted its stake in VanEck Gold Miners ETF by 74.7% in the 4th quarter. Rit Capital Partners PLC now owns 1,197,000 shares of the exchange traded fund’s stock valued at $102,679,000 after buying an additional 512,000 shares in the last quarter. Axiom Investment Management LLC acquired a new stake in VanEck Gold Miners ETF in the 1st quarter valued at $934,000. Primoris Wealth Advisors LLC grew its position in VanEck Gold Miners ETF by 405.6% in the fourth quarter. Primoris Wealth Advisors LLC now owns 27,300 shares of the exchange traded fund’s stock valued at $2,342,000 after acquiring an additional 21,900 shares during the period. Finally, Keystone Investors PTE Ltd. bought a new stake in VanEck Gold Miners ETF in the fourth quarter valued at $57,449,000.

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.