Forte Asset Management LLC Sells 14,038 Shares of VanEck Gold Miners ETF (NYSEARCA:GDX)

Forte Asset Management LLC cut its stake in shares of VanEck Gold Miners ETF (NYSEARCA:GDX) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,076 shares of the exchange traded fund’s stock after selling 14,038 shares during the period. Forte Asset Management LLC’s holdings in VanEck Gold Miners ETF were worth $1,954,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GDX. Capital Investment Advisors LLC grew its position in shares of VanEck Gold Miners ETF by 9.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 17,668 shares of the exchange traded fund’s stock valued at $599,000 after acquiring an additional 1,580 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in VanEck Gold Miners ETF by 39.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 30,474 shares of the exchange traded fund’s stock worth $964,000 after buying an additional 8,670 shares during the period. US Bancorp DE boosted its holdings in VanEck Gold Miners ETF by 4.9% in the 1st quarter. US Bancorp DE now owns 13,933 shares of the exchange traded fund’s stock worth $441,000 after buying an additional 649 shares during the period. LRI Investments LLC bought a new position in VanEck Gold Miners ETF in the 1st quarter worth $31,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of VanEck Gold Miners ETF by 9.4% during the 1st quarter. Clearbridge Investments LLC now owns 17,400 shares of the exchange traded fund’s stock valued at $550,000 after purchasing an additional 1,500 shares during the last quarter.

VanEck Gold Miners ETF Stock Down 2.8 %

GDX opened at $40.34 on Friday. The firm has a 50-day simple moving average of $39.94 and a two-hundred day simple moving average of $37.04. VanEck Gold Miners ETF has a 52 week low of $25.67 and a 52 week high of $44.22. The company has a market capitalization of $16.13 billion, a PE ratio of 28.03 and a beta of 0.85.

VanEck Gold Miners ETF Company Profile

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.