VanEck Junior Gold Miners ETF (NYSEARCA:GDXJ) Shares Gap Down – Here’s Why

VanEck Junior Gold Miners ETF (NYSEARCA:GDXJ) shares gapped down prior to trading on Thursday . The stock had previously closed at $116.37, but opened at $106.61. VanEck Junior Gold Miners ETF shares last traded at $107.17, with a volume of 3,029,563 shares changing hands.

VanEck Junior Gold Miners ETF Stock Performance

The company has a market cap of $8.71 billion, a PE ratio of 24.09 and a beta of 0.74. The stock’s 50-day simple moving average is $134.71 and its 200 day simple moving average is $113.18.

Institutional Investors Weigh In On VanEck Junior Gold Miners ETF

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in VanEck Junior Gold Miners ETF by 124.9% during the 3rd quarter. Bank of Montreal Can now owns 3,870,489 shares of the exchange traded fund’s stock worth $383,294,000 after purchasing an additional 2,149,559 shares during the period. Lingotto Investment Management LLP lifted its holdings in shares of VanEck Junior Gold Miners ETF by 0.8% in the 4th quarter. Lingotto Investment Management LLP now owns 2,602,894 shares of the exchange traded fund’s stock valued at $296,157,000 after buying an additional 20,157 shares during the period. Morgan Stanley boosted its stake in shares of VanEck Junior Gold Miners ETF by 6.7% in the fourth quarter. Morgan Stanley now owns 2,306,483 shares of the exchange traded fund’s stock valued at $262,432,000 after buying an additional 145,362 shares in the last quarter. Invesco Ltd. boosted its stake in shares of VanEck Junior Gold Miners ETF by 1.2% in the third quarter. Invesco Ltd. now owns 1,982,116 shares of the exchange traded fund’s stock valued at $196,289,000 after buying an additional 23,234 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in VanEck Junior Gold Miners ETF by 30.1% during the fourth quarter. Rafferty Asset Management LLC now owns 1,750,475 shares of the exchange traded fund’s stock worth $199,169,000 after acquiring an additional 404,916 shares during the period.

About VanEck Junior Gold Miners ETF

Market Vectors Junior Gold Miners ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Junior Gold Miners Index (the Index). The Index provides exposure to a global universe of publicly traded small- and medium-capitalization companies that generate at least 50% of their revenues from gold and/or silver mining, hold real property that has the potential to produce at least 50% of the Company’s revenue from gold or silver mining when developed, or primarily invest in gold or silver.