Connective Capital Management LLC Makes New Investment in VanEck Gold Miners ETF $GDX

Connective Capital Management LLC acquired a new stake in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,310 shares of the exchange traded fund’s stock, valued at approximately $541,000. VanEck Gold Miners ETF makes up approximately 0.3% of Connective Capital Management LLC’s portfolio, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caisse de depot et placement du Quebec bought a new position in shares of VanEck Gold Miners ETF during the fourth quarter worth $218,971,000. M&T Bank Corp increased its holdings in VanEck Gold Miners ETF by 7,491.6% in the 4th quarter. M&T Bank Corp now owns 2,025,428 shares of the exchange traded fund’s stock valued at $173,721,000 after acquiring an additional 1,998,748 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in 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 acquiring an additional 1,503,884 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in VanEck Gold Miners ETF in the 4th quarter valued at $101,981,000. Finally, Menora Mivtachim Holdings LTD. purchased a new stake in VanEck Gold Miners ETF in the 3rd quarter worth $70,231,000.

VanEck Gold Miners ETF Stock Down 2.2%

Shares of GDX stock opened at $82.51 on Friday. The company’s fifty day simple moving average is $89.46 and its two-hundred day simple moving average is $93.01. VanEck Gold Miners ETF has a 52 week low of $50.32 and a 52 week high of $117.18. The stock has a market cap of $25.42 billion, a P/E ratio of 21.70 and a beta of 0.60.

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.