Market Vectors Gold Miners ETF (GDX) Sees Large Decline in Short Interest
Market Vectors Gold Miners ETF (NYSE:GDX) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 51,661,342 shares, a decline of 5.3% from the August 31st total of 54,541,370 shares. Based on an average daily volume of 98,807,112 shares, the days-to-cover ratio is currently 0.5 days.
Shares of Market Vectors Gold Miners ETF (NYSE:GDX) opened at 26.43 on Friday. Market Vectors Gold Miners ETF has a 12 month low of $12.40 and a 12 month high of $31.79. The company’s 50 day moving average price is $27.62 and its 200 day moving average price is $25.81.
About Market Vectors Gold Miners ETF
Market Vectors Gold Miners ETF (the Trust) seeks to replicate as closely as possible the price and yield performance of NYSE Arca Gold Miners Index (GDM). GDM is a market capitalization-weighted index, and provides exposure to publicly traded companies worldwide involved primarily in gold mining, representing a diversified blend of small-, mid- and large capitalization stocks.The Fund normally invests at least 80% of its total assets in common stocks and American depositary receipts (ADRs) of companies involved in the gold mining industry.
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