Kavar Capital Partners Group LLC Purchases New Shares in VanEck Gold Miners ETF (NYSEARCA:GDX)

Kavar Capital Partners Group LLC purchased a new position in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 4,809 shares of the exchange traded fund’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently added to or reduced their stakes in GDX. Golden State Wealth Management LLC lifted its holdings in VanEck Gold Miners ETF by 788.3% during the 1st quarter. Golden State Wealth Management LLC now owns 4,388 shares of the exchange traded fund’s stock worth $202,000 after buying an additional 3,894 shares in the last quarter. Spire Wealth Management increased its stake in shares of VanEck Gold Miners ETF by 22.0% in the 1st quarter. Spire Wealth Management now owns 28,432 shares of the exchange traded fund’s stock valued at $1,307,000 after buying an additional 5,131 shares during the period. Global Assets Advisory LLC bought a new stake in shares of VanEck Gold Miners ETF during the first quarter worth $358,000. EQ Wealth Advisors LLC acquired a new position in shares of VanEck Gold Miners ETF during the first quarter valued at $42,000. Finally, XML Financial LLC bought a new position in VanEck Gold Miners ETF in the first quarter valued at about $233,000.

VanEck Gold Miners ETF Stock Up 0.1%

Shares of GDX stock opened at $51.92 on Thursday. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 21.70 and a beta of 0.55. VanEck Gold Miners ETF has a 12 month low of $33.28 and a 12 month high of $54.70. The stock has a 50-day moving average price of $50.39 and a 200 day moving average price of $43.73.

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.