VanEck Gold Miners ETF (NYSEARCA:GDX) Sees Significant Decline in Short Interest

VanEck Gold Miners ETF (NYSEARCA:GDX) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 35,988,049 shares, a decline of 18.4% from the March 15th total of 44,081,354 shares. Approximately 11.6% of the shares of the company are short sold. Based on an average daily trading volume, of 36,473,939 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On VanEck Gold Miners ETF

A number of hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its position in shares of VanEck Gold Miners ETF by 0.7% during 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 increased 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 acquired a new stake in shares of VanEck Gold Miners ETF during the 4th quarter worth about $218,971,000. M&T Bank Corp increased its position in shares of VanEck Gold Miners ETF by 7,491.6% during the 4th 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 in the last quarter. Finally, Rit Capital Partners PLC increased its position in shares of VanEck Gold Miners ETF by 74.7% during the 4th quarter. Rit Capital Partners PLC now owns 1,197,000 shares of the exchange traded fund’s stock worth $102,679,000 after purchasing an additional 512,000 shares in the last quarter.

VanEck Gold Miners ETF Stock Down 0.1%

VanEck Gold Miners ETF stock traded down $0.11 on Thursday, hitting $97.66. The company’s stock had a trading volume of 13,719,341 shares, compared to its average volume of 28,544,162. The firm has a market cap of $30.32 billion, a P/E ratio of 21.70 and a beta of 0.71. The company has a fifty day moving average price of $98.36 and a 200-day moving average price of $89.11. VanEck Gold Miners ETF has a one year low of $45.10 and a one year high of $117.18.

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.