Point Nemo Capital LLC boosted its stake in VanEck Gold Miners ETF (NYSEARCA:GDX – Free Report) by 345.8% in the third quarter, HoldingsChannel reports. The firm owned 55,035 shares of the exchange traded fund’s stock after acquiring an additional 42,691 shares during the period. VanEck Gold Miners ETF accounts for about 2.2% of Point Nemo Capital LLC’s holdings, making the stock its 12th biggest position. Point Nemo Capital LLC’s holdings in VanEck Gold Miners ETF were worth $4,832,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avalon Trust Co bought a new stake in shares of VanEck Gold Miners ETF in the 1st quarter valued at about $26,000. Hickory Point Bank & Trust acquired a new position in VanEck Gold Miners ETF during the third quarter valued at approximately $30,000. Signature Equity Partners LLC bought a new stake in VanEck Gold Miners ETF in the third quarter valued at approximately $33,000. Eastern Bank acquired a new stake in VanEck Gold Miners ETF in the third quarter worth $53,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of VanEck Gold Miners ETF during the first quarter worth $67,000.
VanEck Gold Miners ETF Stock Up 2.2%
Shares of GDX stock opened at $87.60 on Friday. VanEck Gold Miners ETF has a 12-month low of $69.74 and a 12-month high of $117.18. The firm has a fifty day moving average of $89.57 and a 200-day moving average of $90.34. The firm has a market capitalization of $27.01 billion, a price-to-earnings ratio of 21.70 and a beta of 0.70.
VanEck Gold Miners ETF Profile
The Fund seeks to match as closely as possible the price and yield performance of the MarketVector Global 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.
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Want to see what other hedge funds are holding GDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VanEck Gold Miners ETF (NYSEARCA:GDX – Free Report).
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