VanEck Gold Miners ETF (NYSEARCA:GDX) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

VanEck Gold Miners ETF (NYSEARCA:GDX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $89.56 and traded as high as $104.78. VanEck Gold Miners ETF shares last traded at $99.65, with a volume of 40,955,852 shares traded.

VanEck Gold Miners ETF Trading Down 3.9%

The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 21.70 and a beta of 0.65. The company has a 50 day moving average price of $82.34 and a 200 day moving average price of $89.56.

Institutional Investors Weigh In On VanEck Gold Miners ETF

A number of institutional investors have recently made changes to their positions in GDX. Caisse de depot et placement du Quebec bought a new position in VanEck Gold Miners ETF in the fourth quarter valued at approximately $218,971,000. Bank of Nova Scotia grew its stake in shares of VanEck Gold Miners ETF by 282.0% in the first quarter. Bank of Nova Scotia now owns 2,692,956 shares of the exchange traded fund’s stock valued at $247,133,000 after buying an additional 1,987,920 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of VanEck Gold Miners ETF by 30.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,511,070 shares of the exchange traded fund’s stock worth $338,966,000 after purchasing an additional 1,503,884 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in VanEck Gold Miners ETF in the fourth quarter valued at approximately $101,981,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in VanEck Gold Miners ETF during the 1st quarter valued at $84,873,000.

VanEck Gold Miners ETF Company Profile

The Fund seeks to match as closely as possible the price and yield performance of the MarketVector Global 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.