Dallas, Texas 08/02/2013 (Financialstrend) – Market Vectors Gold Miners ETF (NYSEARCA:GDX) made loss of 3.19 % to close at $26.10 per share on Friday with intraday movements ranging from low of $26.10 to high of $27.15 per share. The 52 week low price for the stock is at $22.21 per share and 52 week high price is at $55.25 per share. There are 253.20 million shares in the market with institutional ownership of 47%. The trading volume on Friday was at 8.83 million shares.
Market Vectors Gold Miners ETF (NYSEARCA:GDX) targets to track the crop performance and the actions of NYSE Gold Miners Index. The firm is involved in a market capitalization weighted index and gives expose to visibly traded corporations in international markets involved in gold mining operations, representing a highly diversified mix of mid, lesser and large capitalization stocks. The Deposit spends about 80% of its whole assets in American depositary receipts and common shares of firms included in the gold mining business.The net asset for the company is nearly 5.81 billion.
The indexing investment method reaches to approximate the investment performance of the firm by financing in a collection of securities that reiterates GDM. The Deposit may get its investments in a group of businesses or particular business or to the extent, which GDM focused in a business or group of businesses. The Fund’s Consultant is called Van Eck Associates Organization. If the price of the gold bullion upsurges, the investors will get an exciting chance to obtain incomes by spending in this exchange traded fund that is highly expanded to invest in the firms involved in the gold mining processes.
According to Paul Weisbruch of Street One Financial, in the past month, the firm is up closely 12% and subsequently the start of July, the ETF has gained nearly 10%. Since its June lows, Market Vectors Gold Miners ETF (NYSEARCA:GDX) has rated in more than $100 million in net asset flows via manufactures.