Financial Management Network Inc. Purchases New Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Financial Management Network Inc. acquired a new position in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 6,289 shares of the exchange traded fund’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Beacon Capital Management LLC increased its stake 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 valued at $25,000 after buying an additional 500 shares during the period. Cedar Wealth Management LLC grew its holdings in VanEck Gold Miners ETF by 63.4% during the 2nd quarter. Cedar Wealth Management LLC now owns 874 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 339 shares in the last quarter. LRI Investments LLC purchased a new position in VanEck Gold Miners ETF during the 1st quarter valued at about $31,000. Eagle Bay Advisors LLC raised its holdings in shares of 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 valued at $40,000 after purchasing an additional 575 shares in the last quarter. Finally, Studio Investment Management LLC raised its holdings in shares of 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 purchasing an additional 408 shares in the last quarter.

VanEck Gold Miners ETF Stock Down 0.5 %

Shares of NYSEARCA GDX traded down $0.21 during midday trading on Friday, reaching $41.92. 3,405,115 shares of the company’s stock traded hands, compared to its average volume of 22,373,096. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 28.03 and a beta of 0.85. The stock’s 50 day simple moving average is $39.72 and its 200-day simple moving average is $36.78. VanEck Gold Miners ETF has a one year low of $25.67 and a one year high of $44.22.

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.