Billions in gold fund assets may be forced into steep sale [CNBC]
VAN ECK VECTORS GENERIC DRUGS ETF (GNRX)
US:NASDAQ Investor Relations:
vaneck.com/etf/equity/gnrx/overview
Company Research
Source: CNBC
Dario Pignatelli | Bloomberg | Getty Images Last week ETF.com reported that the VanEck Vectors Junior Gold Miners ETF ( GDXJ ) may have become too big for its index, the MVIS Global Junior Gold Miners Index. The $5.4 billion exchange-traded fund owns giant positions in its underlying holdings, putting it at risk of violating certain Canadian and U.S. regulatory thresholds. To avoid crossing those thresholds, the ETF bought up stocks of companies that aren't in its index — creating a significant divergence between the ETF components and the index components. Last Thursday, VanEck (which runs both the ETF and index) acknowledged the divergence by announcing it would broaden the scope of the index and include many more gold miner stocks in the portfolio at the next rebalance date. Dramatic transformation for GDXJ According to a press release from the firm, starting on June 17, "companies ranking between 60 percent and 98 percent (currently betw
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