Independent Financial Group LLC Purchases New Shares in VanEck Gold Miners ETF $GDX

Independent Financial Group LLC purchased a new position in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) during the first quarter, HoldingsChannel reports. The fund purchased 86,138 shares of the exchange traded fund’s stock, valued at approximately $7,905,000.

A number of other hedge funds have also bought and sold shares of the business. Morgan Stanley raised its stake in VanEck Gold Miners ETF by 0.7% in the 4th quarter. Morgan Stanley now owns 12,876,546 shares of the exchange traded fund’s stock worth $1,104,421,000 after purchasing an additional 90,514 shares in the last quarter. Rafferty Asset Management LLC grew its position in shares of VanEck Gold Miners ETF by 8.2% during the 4th quarter. Rafferty Asset Management LLC now owns 7,053,592 shares of the exchange traded fund’s stock worth $604,987,000 after purchasing an additional 534,856 shares in the last quarter. Caisse de depot et placement du Quebec bought a new position in shares of VanEck Gold Miners ETF during the fourth quarter worth approximately $218,971,000. M&T Bank Corp increased its holdings in shares of VanEck Gold Miners ETF by 7,491.6% during the fourth quarter. M&T Bank Corp now owns 2,025,428 shares of the exchange traded fund’s stock worth $173,721,000 after purchasing an additional 1,998,748 shares during the period. Finally, Meitav Investment House Ltd. increased its holdings in shares of VanEck Gold Miners ETF by 68.6% during the first quarter. Meitav Investment House Ltd. now owns 1,211,200 shares of the exchange traded fund’s stock worth $111,152,000 after purchasing an additional 493,000 shares during the period.

VanEck Gold Miners ETF Trading Down 3.5%

NYSEARCA GDX opened at $71.40 on Friday. The company has a market cap of $21.80 billion, a price-to-earnings ratio of 21.70 and a beta of 0.65. The company has a 50 day moving average of $82.16 and a 200-day moving average of $91.74. VanEck Gold Miners ETF has a 1-year low of $50.44 and a 1-year high of $117.18.

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.