Financial Advocates Investment Management Trims Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Financial Advocates Investment Management reduced its position in VanEck Gold Miners ETF (NYSEARCA:GDX) by 71.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,046 shares of the exchange traded fund’s stock after selling 22,384 shares during the period. Financial Advocates Investment Management’s holdings in VanEck Gold Miners ETF were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Beacon Capital Management LLC boosted its holdings in shares of VanEck Gold Miners ETF by 202.4% during the second quarter. Beacon Capital Management LLC now owns 747 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. LRI Investments LLC purchased a new position in VanEck Gold Miners ETF during the first quarter worth about $28,000. Cedar Wealth Management LLC lifted its position in VanEck Gold Miners ETF by 63.4% during the second 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 period. Eagle Bay Advisors LLC boosted its stake in VanEck Gold Miners ETF by 95.8% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,175 shares of the exchange traded fund’s stock worth $40,000 after buying an additional 575 shares during the last quarter. Finally, Studio Investment Management LLC grew its holdings in VanEck Gold Miners ETF by 51.4% in the 2nd quarter. Studio Investment Management LLC now owns 1,202 shares of the exchange traded fund’s stock valued at $41,000 after buying an additional 408 shares during the period.

VanEck Gold Miners ETF Price Performance

Shares of GDX stock opened at $39.85 on Monday. The firm’s 50-day simple moving average is $39.95 and its 200-day simple moving average is $37.11. VanEck Gold Miners ETF has a 1-year low of $25.67 and a 1-year high of $44.22. The firm has a market cap of $15.93 billion, a P/E ratio of 28.03 and a beta of 0.85.

VanEck Gold Miners ETF 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.