VanEck Gold Miners ETF Target of Unusually High Options Trading (NYSEARCA:GDX)

VanEck Gold Miners ETF (NYSEARCA:GDX) was the recipient of unusually large options trading on Friday. Stock traders bought 175,602 call options on the stock. This is an increase of 35% compared to the typical volume of 129,858 call options.

Hedge Funds Weigh In On VanEck Gold Miners ETF

Several hedge funds have recently made changes to their positions in the company. Avalon Trust Co purchased a new position in VanEck Gold Miners ETF during the 1st quarter worth approximately $26,000. Eukles Asset Management acquired a new stake in VanEck Gold Miners ETF during the 4th quarter worth about $27,000. Bayban purchased a new position in shares of VanEck Gold Miners ETF during the 4th quarter valued at about $27,000. Princeton Global Asset Management LLC purchased a new stake in shares of VanEck Gold Miners ETF in the first quarter worth about $27,000. Finally, Evolution Wealth Management Inc. acquired a new stake in VanEck Gold Miners ETF during the first quarter worth about $33,000.

VanEck Gold Miners ETF Trading Down 3.2%

Shares of NYSEARCA:GDX traded down $2.45 during trading on Friday, reaching $74.33. The stock had a trading volume of 10,550,769 shares, compared to its average volume of 24,961,807. The company has a market capitalization of $22.67 billion, a P/E ratio of 21.70 and a beta of 0.65. VanEck Gold Miners ETF has a one year low of $51.37 and a one year high of $117.18. The firm’s 50-day simple moving average is $78.82 and its 200 day simple moving average is $90.74.

About VanEck Gold Miners ETF

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.