Menlo Advisors LLC Decreases Holdings in VanEck Gold Miners ETF $GDX

Menlo Advisors LLC lowered its holdings in VanEck Gold Miners ETF (NYSEARCA:GDX) by 27.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 165,992 shares of the exchange traded fund’s stock after selling 61,874 shares during the quarter. VanEck Gold Miners ETF accounts for approximately 5.6% of Menlo Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Menlo Advisors LLC’s holdings in VanEck Gold Miners ETF were worth $12,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GDX. Avalon Trust Co bought a new stake in VanEck Gold Miners ETF during the first quarter valued at approximately $26,000. Eukles Asset Management bought a new position in shares of VanEck Gold Miners ETF in the 4th quarter worth $27,000. Bayban purchased a new stake in shares of VanEck Gold Miners ETF during the 4th quarter valued at $27,000. Princeton Global Asset Management LLC purchased a new stake in shares of VanEck Gold Miners ETF during the 1st quarter valued at $27,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of VanEck Gold Miners ETF during the 1st quarter valued at $33,000.

VanEck Gold Miners ETF Stock Performance

NYSEARCA GDX opened at $96.03 on Friday. VanEck Gold Miners ETF has a 52-week low of $67.25 and a 52-week high of $117.18. The company has a fifty day moving average of $86.21 and a 200-day moving average of $89.16. The company has a market capitalization of $29.30 billion, a P/E ratio of 21.70 and a beta of 0.70.

VanEck Gold Miners ETF Company 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.