VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Gap Down – Should You Sell?

VanEck Gold Miners ETF (NYSEARCA:GDX) gapped down before the market opened on Monday . The stock had previously closed at $38.28, but opened at $36.99. VanEck Gold Miners ETF shares last traded at $37.06, with a volume of 3,673,555 shares.

VanEck Gold Miners ETF Price Performance

The stock’s 50-day moving average is $39.79 and its 200 day moving average is $37.57. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85.

Institutional Investors Weigh In On VanEck Gold Miners ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Capital Management LLC grew its holdings in shares of VanEck Gold Miners ETF by 202.4% in the 2nd quarter. Beacon Capital Management LLC now owns 747 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 500 shares during the period. Cedar Wealth Management LLC raised its stake in shares of VanEck Gold Miners ETF by 63.4% during the 2nd quarter. Cedar Wealth Management LLC now owns 874 shares of the exchange traded fund’s stock worth $30,000 after buying an additional 339 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of VanEck Gold Miners ETF in the 1st quarter worth about $28,000. Aptus Capital Advisors LLC raised its position in VanEck Gold Miners ETF by 53.0% during the third quarter. Aptus Capital Advisors LLC now owns 950 shares of the exchange traded fund’s stock worth $38,000 after acquiring an additional 329 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its position in VanEck Gold Miners ETF by 95.8% during the second quarter. Eagle Bay Advisors LLC now owns 1,175 shares of the exchange traded fund’s stock worth $40,000 after acquiring an additional 575 shares during 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.