Cairn Investment Group Inc. Cuts Stake in VanEck Gold Miners ETF $GDX

Cairn Investment Group Inc. cut its holdings in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) by 61.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,460 shares of the exchange traded fund’s stock after selling 62,825 shares during the quarter. VanEck Gold Miners ETF accounts for approximately 1.8% of Cairn Investment Group Inc.’s holdings, making the stock its 22nd biggest holding. Cairn Investment Group Inc.’s holdings in VanEck Gold Miners ETF were worth $3,621,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Meitav Investment House Ltd. grew its holdings in shares of VanEck Gold Miners ETF by 68.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,211,200 shares of the exchange traded fund’s stock valued at $111,152,000 after purchasing an additional 493,000 shares during the last quarter. Arbor Investment Advisors LLC bought a new stake in VanEck Gold Miners ETF in the first quarter worth $469,000. Meridian Investment Counsel Inc. lifted its stake in VanEck Gold Miners ETF by 7.7% in the first quarter. Meridian Investment Counsel Inc. now owns 13,942 shares of the exchange traded fund’s stock worth $1,279,000 after purchasing an additional 1,002 shares during the last quarter. Whittier Trust Co. boosted its position in VanEck Gold Miners ETF by 48.6% during the first quarter. Whittier Trust Co. now owns 11,106 shares of the exchange traded fund’s stock valued at $1,042,000 after buying an additional 3,630 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in VanEck Gold Miners ETF during the first quarter valued at about $747,000.

VanEck Gold Miners ETF Stock Performance

Shares of GDX stock opened at $75.76 on Wednesday. The stock has a 50 day moving average price of $84.30 and a two-hundred day moving average price of $92.49. VanEck Gold Miners ETF has a fifty-two week low of $50.35 and a fifty-two week high of $117.18. The company has a market capitalization of $22.95 billion, a P/E ratio of 21.70 and a beta of 0.65.

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.