Market Vectors Gold Miners ETF (NYSEARCA:GDX) Turns The Corner – Post Gains In December

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Dallas, Texas 01/09/2014 (FINANCIALSTRENDS) – Market Vectors Gold Miners ETF (NYSEARCA:GDX) is an exchange traded fund which has garnered a market cap of $6.97 billion. It tracks its yield and gains against the performance of NYSE Arca Gold Miners Index. NYSE Arca Gold Miners Index tracks the performance of publicly traded gold mining firms from across the world. It tracks a good blend of small capped, mid capped and large capped firms. Market Vectors Gold Miners ETF (NYSEARCA:GDX) invests a major part of its funds into gold mining company stocks which are tracked by the NYSE Acra Gold Miners index. The ETF has retained the services of advisory firm Van Eck Associates Corporation for helping it in creating a investment plan.

Market Vectors Gold Miners ETF (NYSEARCA:GDX) has over the past one month has managed to turn the corner and posted net gains of close to 5.5 percent in the same time period. These gains have extended well into last week’s trading, when the fund has posted a 2.2 percent upgrade in its market value. At close of business on January 8, the stock was trading at $21.61 per share which is 1.64 percent lower than its previous day close. At these price points, the stock is trading very close to its 52 week low price point. It is just 7 percent above its 52 week low price point and 52 percent lower than its 52 week high price point. Over the trailing 12 months, the stock has been trading range bound between $20.18 and $45.54.

As the general economic scenario surrounding the gold market has been weak over the past few quarters, gold mining firms have cut down on their dividend payout plans. Following a similar pattern is this ETF which has provided annual dividend yield of 2.08 percent over the past one year.

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