A New Way To Play The Rise In Gold: Market Vectors Junior Gold Miners ETF (GDXJ)

November 11, 2009 12:35 PM EST

There's a new ETF for the gold miners, this time the juniors. Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) started trading today on the NYSE Arca. GDXJ joins its "big brother" Market Vectors Gold Miners ETF (NYSE: GDX).

The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Junior Gold Miners Index, which is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of publicly traded companies of small-and medium-capitalization that are involved primarily in the mining for gold and/or silver.

The ETF is sponsored by Van Eck Global.

As of September 30, 2009, the weighted average market capitalization of the index's constituents was $850 million. As of the same date, the six countries in GDXJ's underlying index by weighting were Canada (62.6%), United States (21.8%), Australia (11.2%), South Africa (2.4%), China (1.3%) and United Kingdom (0.7%).

The 10 ten holding in the new ETF: Coeur d Alene Mines Corp (NYSE: CDE), New Gold Inc (NGD:CN), Silver Standard Resources Inc (Nasdaq: SSRI), Hecla Mining Co (NYSE: HL), Gammon Gold Inc (NYSE: GRS), Alamos Gold Inc (AGI:CN), Semafo Inc. (SMF:CN), Silvercorp Metals Inc. (SVM:CN), European Goldfields Ltd (EGU:CN), Golden Star Resources Ltd (NYSE: GSS).

The ETF is trading at $25.27 currently today.

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