VanEck Gold Miners ETF (NYSEARCA:GDX) Hits New 1-Year High – Should You Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $45.65 and last traded at $45.44, with a volume of 2219867 shares trading hands. The stock had previously closed at $44.67.

VanEck Gold Miners ETF Stock Down 0.4 %

The business has a 50 day moving average of $41.29 and a 200 day moving average of $39.25. The company has a market capitalization of $15.10 billion, a P/E ratio of 20.34 and a beta of 0.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ausdal Financial Partners Inc. raised its position in VanEck Gold Miners ETF by 2.2% during the fourth quarter. Ausdal Financial Partners Inc. now owns 11,341 shares of the exchange traded fund’s stock valued at $385,000 after purchasing an additional 249 shares during the period. Centennial Wealth Advisory LLC lifted its position in VanEck Gold Miners ETF by 2.8% in the fourth quarter. Centennial Wealth Advisory LLC now owns 10,576 shares of the exchange traded fund’s stock worth $359,000 after buying an additional 288 shares during the last quarter. Bogart Wealth LLC boosted its stake in VanEck Gold Miners ETF by 9.5% during the fourth quarter. Bogart Wealth LLC now owns 3,472 shares of the exchange traded fund’s stock worth $118,000 after buying an additional 300 shares during the period. Integrated Wealth Concepts LLC increased its position in VanEck Gold Miners ETF by 1.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 26,323 shares of the exchange traded fund’s stock valued at $893,000 after acquiring an additional 348 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC increased its position in VanEck Gold Miners ETF by 4.3% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 9,051 shares of the exchange traded fund’s stock valued at $307,000 after acquiring an additional 375 shares during 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.