VanEck Gold Miners ETF (NYSEARCA:GDX) Sets New 52-Week High – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX) shares hit a new 52-week high on Friday . The company traded as high as $47.66 and last traded at $47.17, with a volume of 35462798 shares. The stock had previously closed at $44.99.

VanEck Gold Miners ETF Stock Performance

The company has a market cap of $15.30 billion, a PE ratio of 21.51 and a beta of 0.84. The stock’s 50 day moving average price is $42.65 and its 200-day moving average price is $39.62.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rafferty Asset Management LLC grew its stake in shares of VanEck Gold Miners ETF by 33.7% in the fourth quarter. Rafferty Asset Management LLC now owns 9,282,123 shares of the exchange traded fund’s stock worth $314,757,000 after purchasing an additional 2,342,211 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of VanEck Gold Miners ETF by 1,116.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,144,108 shares of the exchange traded fund’s stock valued at $72,707,000 after buying an additional 1,967,832 shares during the period. Raymond James Financial Inc. bought a new position in shares of VanEck Gold Miners ETF during the fourth quarter valued at approximately $64,425,000. Strategic Financial Concepts LLC lifted its stake in VanEck Gold Miners ETF by 3,704.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,819,255 shares of the exchange traded fund’s stock worth $61,691,000 after acquiring an additional 1,771,440 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in VanEck Gold Miners ETF by 68.7% in the fourth quarter. Two Sigma Investments LP now owns 3,851,200 shares of the exchange traded fund’s stock valued at $130,594,000 after acquiring an additional 1,567,800 shares in the last quarter.

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.