Easterly Investment Partners LLC has significantly increased its holdings in the VanEck Gold Miners ETF (NYSEARCA:GDX) by 160.3% during the second quarter of 2023. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the firm acquired an additional 12,500 shares, bringing its total to 20,300 shares. As of the end of the reporting period, Easterly’s investment in the ETF was valued at approximately $1,057,000.
The surge in Easterly’s holdings is part of a broader trend, as multiple institutional investors have also adjusted their positions in the VanEck Gold Miners ETF. For instance, Primoris Wealth Advisors LLC entered the market with a new stake worth about $2,314,000. Similarly, Private Trust Co. NA increased its stake by 13.2%, now owning 2,216 shares, valued at $115,000 after acquiring an additional 258 shares in the last quarter.
Other notable investments include Lunt Capital Management Inc. and Ritholtz Wealth Management, which purchased new stakes valued at about $337,000 and $265,000, respectively. Aries Wealth Management also enhanced its position by 4.8%, bringing its total to 47,724 shares worth approximately $2,485,000.
Current Performance of VanEck Gold Miners ETF
As of the latest trading session, the VanEck Gold Miners ETF opened at $78.73. Over the past year, the ETF has witnessed significant fluctuations, with a low of $33.42 and a high of $85.08. The ETF currently holds a market capitalization of $23.14 billion, a price-to-earnings (P/E) ratio of 21.70, and a beta of 0.77. Additionally, its 50-day moving average stands at $68.93, while the 200-day moving average is at $56.98.
The VanEck Gold Miners ETF aims to closely mirror the performance of the AMEX Gold Miners Index. By employing a passive investment strategy, the fund seeks to replicate the index through a diversified portfolio of stocks.
For those interested in further developments regarding the VanEck Gold Miners ETF and its institutional investors, resources such as HoldingsChannel.com provide insights into the latest 13F filings and insider trades. Additionally, MarketBeat.com offers a free daily newsletter summarizing news and analyst ratings related to the ETF and other companies in the sector.
