Summit Financial LLC Acquires 19,723 Shares of VanEck Gold Miners ETF (NYSEARCA:GDX)

Summit Financial LLC increased its stake in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) by 47.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 61,046 shares of the exchange traded fund’s stock after purchasing an additional 19,723 shares during the period. Summit Financial LLC’s holdings in VanEck Gold Miners ETF were worth $2,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its holdings in VanEck Gold Miners ETF by 9.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 40,109 shares of the exchange traded fund’s stock valued at $1,440,000 after purchasing an additional 3,490 shares during the period. SCP Investment LP bought a new position in VanEck Gold Miners ETF in the fourth quarter valued at $773,000. Summit Securities Group LLC bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter valued at about $644,000. Schroder Investment Management Group raised its holdings in shares of VanEck Gold Miners ETF by 298.3% during the 4th quarter. Schroder Investment Management Group now owns 1,793,072 shares of the exchange traded fund’s stock valued at $60,552,000 after buying an additional 1,342,885 shares in the last quarter. Finally, Allianz SE bought a new stake in VanEck Gold Miners ETF in the 4th quarter worth approximately $4,652,000.

VanEck Gold Miners ETF Stock Performance

GDX stock opened at $45.97 on Tuesday. The firm has a market cap of $15.24 billion, a P/E ratio of 20.34 and a beta of 0.95. VanEck Gold Miners ETF has a 52 week low of $31.71 and a 52 week high of $46.94. The firm’s fifty day moving average is $41.47 and its 200 day moving average is $39.33.

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.