Summit Financial Wealth Advisors LLC Lowers Stock Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Summit Financial Wealth Advisors LLC lessened its stake in VanEck Gold Miners ETF (NYSEARCA:GDX) by 3.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,400 shares of the exchange traded fund’s stock after selling 400 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in VanEck Gold Miners ETF were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GDX. JPMorgan Chase & Co. increased its stake in VanEck Gold Miners ETF by 25.4% in the third quarter. JPMorgan Chase & Co. now owns 9,477,920 shares of the exchange traded fund’s stock valued at $255,051,000 after acquiring an additional 1,920,723 shares during the last quarter. Morgan Stanley lifted its holdings in shares of VanEck Gold Miners ETF by 4.3% in the 3rd quarter. Morgan Stanley now owns 11,073,715 shares of the exchange traded fund’s stock worth $297,994,000 after acquiring an additional 460,687 shares during the last quarter. Horizon Family Wealth Inc. purchased a new stake in shares of VanEck Gold Miners ETF in the 3rd quarter valued at $295,000. Harbour Investments Inc. grew its holdings in shares of VanEck Gold Miners ETF by 13.7% during the 3rd quarter. Harbour Investments Inc. now owns 195,941 shares of the exchange traded fund’s stock valued at $5,273,000 after purchasing an additional 23,665 shares during the last quarter. Finally, Sprott Inc. raised its position in VanEck Gold Miners ETF by 18.7% in the 3rd quarter. Sprott Inc. now owns 10,221 shares of the exchange traded fund’s stock worth $275,000 after purchasing an additional 1,610 shares during the period.

VanEck Gold Miners ETF Price Performance

VanEck Gold Miners ETF stock traded down $0.17 during mid-day trading on Monday, hitting $36.10. The company’s stock had a trading volume of 16,348,130 shares, compared to its average volume of 24,361,051. The business has a 50 day moving average price of $34.70 and a 200-day moving average price of $31.55. VanEck Gold Miners ETF has a 12 month low of $25.62 and a 12 month high of $37.47. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85.

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.