THE Actual MESSAGE FROM THE GDXJ MESS

In what appears a lifetime in the past, I was the equity index trader at a huge financial institution on Bay Street. Despite the fact that a great deal has altered given that then, there are components of the game that are timeless. So I am placing my previous hat back on to analyze VanEck’s latest troubles arising from the accomplishment of their GDXJ ETF (Junior Gold Miners). And lest you feel this will be a dull ETF specific piece, I urge you to suffer by means of the particulars as I feel the market place is missing the bigger image message.

For these unaware, VanEck just lately announced they had been halting the creation of the their GDXJ 3x times Bull shares (JNUG) since they were operating into constraints. In reality, the acceptance of the GDXJ ETF merchandise has been so overwhelming, VanEck also reported they would be shifting the index principles to accommodate the elevated demand. From Bloomberg:

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Just my view but there are too many big firms in this index for it to be referred to as “Junior”

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Published at Thu, 20 Apr 2017 02:06:10 +0000

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