Little Brother In Focus: Market Vector Junior Miners ETF
November 12, 2009 9:37 AM
Market Vector Gold Miners ETF (NYSE: GDX) has been in the spotlight since the ETF is up about 6% in the past five days. The junior equivalent of the GDX, the Market Vector Junior Miners ETF (NYSE: GDXJ) will be in focus when its lists on November 11, 2009.
The GDXJ is comprised of about 40 small and midcap companies from around the world that derive at least 50% of their revenue from gold and silver mining. The regional exposure is heavily biased to North America with Canada accounting for 62% of the GDXJ's holdings and the U.S. making up another 20%.
The junior ETF provides a good trading opportunity for traders who want to negate the selection risk while trading junior mining stocks. Jim Cramer has been heavily recommending going long Gold. Cramer said “The present gold rally, with the commodity up 26% year-to-date, a huge positive.”
The GDX was up 0.48% at $ 49.90 at the time of writing. Read more about this in Benzinga
