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Everybody's A Precious Metals Bear, So ... Gold And Silver Surge
From Seeking Alpha Investors continue to pour assets into depreciating gold miner ETFs Go figure: The Market Vectors Gold Miners ETF (GDX) has now slid ~55% YTD to a five-year low, yet the fund has nearly doubled in size to $6.8B, as investors have added ~$2.5B despite the dismal performance.With stocks at record highs, miners may look relatively cheap vs. other sectors, and funds like GDX and GDXJ appeal to many institutional investors who turn to miner equities as their favorite proxy for gold; indeed, the SPDR Gold Trust has lost $23B-plus YTD in assets under management.But demand for gold miner funds isn’t always tied to value investors or long-term buy-and-hold types: Direxion Daily Gold Miners Bull 3X Shares (NUGT) has attracted net asset inflows of more than $1.3B despite a difficult year for returns, while the bearish counterpart fund (DUST) has seen YTD net outflows despite gains of ~200%.Also: GLDX, GGGG, RING, PSAU, JNUG, JDST. More details from Original Source http://www.indexuniverse.com/sections/features/20604-depreciating-gold-miner-etfs-rake-in-aum.html?showall=&fullart=1&start=2
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Investors continue to pour assets into depreciating gold miner ETFs
Go figure: The Market Vectors Gold Miners ETF (GDX) has now slid ~55% YTD to a five-year low, yet the fund has nearly doubled in size to $6.8B, as investors have added ~$2.5B despite the dismal performance.With stocks at record highs, miners may look relatively cheap vs. other sectors, and funds like GDX and GDXJ appeal to many institutional investors who turn to miner equities as their favorite proxy for gold; indeed, the SPDR Gold Trust has lost $23B-plus YTD in assets under management.But demand for gold miner funds isn’t always tied to value investors or long-term buy-and-hold types: Direxion Daily Gold Miners Bull 3X Shares (NUGT) has attracted net asset inflows of more than $1.3B despite a difficult year for returns, while the bearish counterpart fund (DUST) has seen YTD net outflows despite gains of ~200%.Also: GLDX, GGGG, RING, PSAU, JNUG, JDST.
More details from Original Source
http://www.indexuniverse.com/sections/features/20604-depreciating-gold-miner-etfs-rake-in-aum.html?showall=&fullart=1&start=2