Gold Miners ETF Sees Significant Outflow: A Closer Look at GDX
Analysis of Recent Market Movement
This week, notable changes have been spotted in the Gold Miners ETF (Symbol: GDX). A substantial outflow of approximately $280.4 million has been detected, marking a decrease of 1.9% in shares outstanding. The number of shares fell from 348,052,500 to 341,302,500.
GDX has had a fluctuating year, with its 52-week low at $25.67 per share and its high reaching $44.22. Currently, the ETF is trading at $42.32. Monitoring GDX’s share price against its 200-day moving average can offer insights into future performance. Those interested can learn more about the significance of the 200-day moving average.
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Exchange Traded Funds (ETFs) operate like stocks when it comes to trading but involve “units” rather than traditional “shares.” These units can be traded, created, or destroyed based on investor interest. Our weekly monitoring of shares outstanding helps identify ETFs with significant inflows—indicating new units created—or outflows, which signify units being withdrawn. Major fluctuations can also affect the individual securities held within these ETFs.
Discover which other 9 ETFs have encountered notable outflows »
Related Information:
- Funds Holding EDV
- ACB Average Annual Return
- AVNS Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
