Dallas, Texas 08/01/2013 (Financialstrend) – Market Vectors Gold Miners ETF (NYSEARCA:GDX) aims to track the yield performance and the movements of NYSE Arca Gold Miners Index. The company is involved in a market capitalization-weighted index and gives disclosure to publicly traded companies in worldwide markets engaged in gold mining operations, indicating a highly diversified mix of mid, small and large capitalization stocks. The Fund spends about 80% of its total assets in American depositary receipts and common stocks of companies involved in the gold mining industry. The indexing investment approach arrives to approximate the investment performance of the company by investing in a portfolio of securities that reiterates GDM. The Fund may get its investments in a group of industries or particular industry or to the extent that GDM focused in an industry or group of industries. The Fund’s Advisor is called Van Eck Associates Corporation. If the prices of the gold bullion increases, the investors will get an exciting opportunity to obtain profits by investing in this exchange traded fund which is highly diversified to invest in the companies involved in the gold mining operations.
Market Vectors Gold Miners ETF (NYSEARCA:GDX) had presented loss of 0.37% with the trading on Wednesday and had thereby closed at $26.96 per share. While the stock opened at $27.09 per share, there had been fluctuations in the intraday prices ranging between $26.40 and $27.68 per share during the day. The 52 week low price for the stock is presently at $22.21 and 52 week high price is at $55.25 per share. There are a total 202.95 million shares in the market valuing to a market cap of $5.47 billion. The stock witnessed around 6.79 million shares being exchanged hands on Wednesday and there is no average level of shares per day.