Market Vectors Junior Gold Miners (NYSEArca: GDXJ) is bouncing after falling to an all-time low and experiencing net outflows of more than $800 million last week.
GDXJ was up nearly 3% on Monday after adjusting for the ETF’s 1-for4 reverse split. The fund rallied over 8% on Friday on heavy trading volume. [Market Vectors to Reverse Split 7 ETFs]
However, investors pulled a net $835.6 million from GDXJ last week, the third-highest outflows among all ETFs, according to IndexUniverse data.
Sentiment on gold miner stocks has dropped to new lows after several head-fake rallies the past few years. The sector has been crushed by falling gold prices and questions over corporate leadership.