Stock Traders Purchase Large Volume of VanEck Gold Miners ETF Put Options (NYSEARCA:GDX)

VanEck Gold Miners ETF (NYSEARCA:GDX) saw unusually large options trading activity on Wednesday. Stock traders acquired 260,624 put options on the stock. This is an increase of approximately 97% compared to the average volume of 132,385 put options.

VanEck Gold Miners ETF Trading Down 2.1%

NYSEARCA GDX opened at $76.97 on Wednesday. VanEck Gold Miners ETF has a 12-month low of $33.42 and a 12-month high of $79.49. The company has a fifty day simple moving average of $65.08 and a two-hundred day simple moving average of $55.18. The stock has a market cap of $22.41 billion, a P/E ratio of 21.70 and a beta of 0.77.

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 company. JPMorgan Chase & Co. lifted its position in VanEck Gold Miners ETF by 766.7% during the second quarter. JPMorgan Chase & Co. now owns 3,977,932 shares of the exchange traded fund’s stock valued at $207,091,000 after purchasing an additional 4,574,598 shares during the period. Slate Path Capital LP acquired a new stake in VanEck Gold Miners ETF during the 2nd quarter worth about $123,070,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of VanEck Gold Miners ETF by 7,098.1% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,080,392 shares of the exchange traded fund’s stock valued at $94,731,000 after buying an additional 2,051,490 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of VanEck Gold Miners ETF by 3,010.4% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,938,221 shares of the exchange traded fund’s stock valued at $89,100,000 after buying an additional 1,875,906 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in shares of VanEck Gold Miners ETF by 30.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,511,070 shares of the exchange traded fund’s stock valued at $338,966,000 after buying an additional 1,503,884 shares during the period.

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.