Synovus Financial Corp Buys 14,970 Shares of VanEck Gold Miners ETF (NYSEARCA:GDX)

Synovus Financial Corp raised its stake in VanEck Gold Miners ETF (NYSEARCA:GDX) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 173,448 shares of the exchange traded fund’s stock after acquiring an additional 14,970 shares during the period. Synovus Financial Corp’s holdings in VanEck Gold Miners ETF were worth $6,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in shares of VanEck Gold Miners ETF during the third quarter worth about $76,065,000. National Bank of Canada FI lifted its holdings in VanEck Gold Miners ETF by 89.0% in the 2nd quarter. National Bank of Canada FI now owns 3,913,211 shares of the exchange traded fund’s stock worth $132,617,000 after buying an additional 1,842,885 shares during the period. Strategic Financial Concepts LLC grew its position in shares of VanEck Gold Miners ETF by 3,646.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,719,210 shares of the exchange traded fund’s stock worth $58,333,000 after buying an additional 1,673,315 shares during the last quarter. Carrhae Capital LLP purchased a new position in shares of VanEck Gold Miners ETF during the third quarter valued at approximately $43,073,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of VanEck Gold Miners ETF during the third quarter valued at approximately $35,838,000.

VanEck Gold Miners ETF Stock Down 2.7 %

NYSEARCA:GDX opened at $36.65 on Friday. The firm’s fifty day simple moving average is $39.03 and its 200 day simple moving average is $37.72. The stock has a market cap of $14.65 billion, a P/E ratio of 28.03 and a beta of 0.85. VanEck Gold Miners ETF has a twelve month low of $25.67 and a twelve month high of $44.22.

VanEck Gold Miners ETF 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.