VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Up 4.6% – Still a Buy?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s share price shot up 4.6% during mid-day trading on Thursday . The stock traded as high as $47.10 and last traded at $47.08. 9,366,046 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 20,523,141 shares. The stock had previously closed at $44.99.

VanEck Gold Miners ETF Trading Up 5.7 %

The firm’s 50-day moving average is $42.50 and its 200 day moving average is $39.58. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 21.51 and a beta of 0.84.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Hedge funds have recently made changes to their positions in the stock. Eastern Bank bought a new position in shares of VanEck Gold Miners ETF during the 4th quarter worth approximately $25,000. Financial Connections Group Inc. bought a new position in VanEck Gold Miners ETF during the fourth quarter worth $25,000. Roxbury Financial LLC acquired a new stake in VanEck Gold Miners ETF in the fourth quarter worth $25,000. Investors Research Corp increased its stake in VanEck Gold Miners ETF by 57.3% in the first quarter. Investors Research Corp now owns 689 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in shares of VanEck Gold Miners ETF by 100.0% during the 4th quarter. Rothschild Investment LLC now owns 1,000 shares of the exchange traded fund’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter.

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.