THE True MESSAGE FROM THE GDXJ MESS

In what would seem a lifetime ago, I was the equity index trader at a big financial institution on Bay Street. Even though a good deal has altered considering that then, there are elements of the game that are timeless. So I am placing my previous hat back on to analyze VanEck’s current troubles arising from the achievement of their GDXJ ETF (Junior Gold Miners). And lest you feel this will be a uninteresting ETF distinct piece, I urge you to endure by means of the particulars as I believe the marketplace is missing the bigger picture message.

For people unaware, VanEck lately announced they were halting the creation of the their GDXJ 3x times Bull shares (JNUG) due to the fact they have been working into constraints. In truth, the recognition of the GDXJ ETF item has been so overpowering, VanEck also reported they would be altering the index rules to accommodate the enhanced demand. From Bloomberg:

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Just my viewpoint but there are as well many big companies in this index for it to be named “Junior”

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Published at Thu, twenty Apr 2017 02:06:ten +0000

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