Cadence Wealth Management LLC Acquires New Position in VanEck Gold Miners ETF (NYSEARCA:GDX)

Cadence Wealth Management LLC bought a new stake in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 656,151 shares of the exchange traded fund’s stock, valued at approximately $20,347,000. VanEck Gold Miners ETF makes up about 16.0% of Cadence Wealth Management LLC’s holdings, making the stock its 2nd biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. City Holding Co. grew its holdings in VanEck Gold Miners ETF by 0.9% during the 4th quarter. City Holding Co. now owns 42,395 shares of the exchange traded fund’s stock valued at $1,314,000 after buying an additional 384 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of VanEck Gold Miners ETF by 2.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 17,319 shares of the exchange traded fund’s stock worth $537,000 after purchasing an additional 391 shares in the last quarter. Kercheville Advisors LLC grew its holdings in shares of VanEck Gold Miners ETF by 0.3% during the fourth quarter. Kercheville Advisors LLC now owns 150,910 shares of the exchange traded fund’s stock worth $4,680,000 after purchasing an additional 404 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of VanEck Gold Miners ETF by 0.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 84,153 shares of the exchange traded fund’s stock worth $2,610,000 after purchasing an additional 415 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of VanEck Gold Miners ETF by 1.4% during the third quarter. D.A. Davidson & CO. now owns 31,415 shares of the exchange traded fund’s stock worth $845,000 after purchasing an additional 438 shares in the last quarter.

VanEck Gold Miners ETF Trading Up 0.7 %

Shares of NYSEARCA GDX traded up $0.25 during midday trading on Friday, hitting $34.58. 21,754,268 shares of the company’s stock were exchanged, compared to its average volume of 26,221,467. VanEck Gold Miners ETF has a 12-month low of $25.62 and a 12-month high of $36.26. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 28.20 and a beta of 0.81. The business’s fifty day moving average price is $30.65 and its two-hundred day moving average price is $29.66.

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.