VanEck Gold Miners ETF (NYSEARCA:GDX) Reaches New 12-Month High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $91.84 and last traded at $91.4170, with a volume of 8783007 shares. The stock had previously closed at $88.45.

VanEck Gold Miners ETF Stock Performance

The firm’s 50 day simple moving average is $80.48 and its 200-day simple moving average is $69.17. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 21.70 and a beta of 0.55.

Institutional Investors Weigh In On VanEck Gold Miners ETF

Several hedge funds have recently bought and sold shares of the business. Hoey Investments Inc. increased its holdings in shares of VanEck Gold Miners ETF by 71.0% in the 2nd quarter. Hoey Investments Inc. now owns 513 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 213 shares during the period. New Republic Capital LLC purchased a new position in VanEck Gold Miners ETF during the third quarter valued at approximately $29,000. Creekmur Asset Management LLC increased its stake in VanEck Gold Miners ETF by 147.2% in the 2nd quarter. Creekmur Asset Management LLC now owns 608 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 362 shares during the period. Highline Wealth Partners LLC increased its stake in VanEck Gold Miners ETF by 45.0% in the 3rd quarter. Highline Wealth Partners LLC now owns 435 shares of the exchange traded fund’s stock valued at $33,000 after buying an additional 135 shares during the period. Finally, RMG Wealth Management LLC purchased a new stake in VanEck Gold Miners ETF in the 2nd quarter worth approximately $34,000.

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.