It’s just an index that is followed by various ETFs from Vanguard, Blackrock etc. These are big pools of money but it is the dumbest of money. It buys based on satisfying certain mechanical criteria (market cap, liquidity). No analysis of company assets, prospects etc.
I have been following index additions in the gold market for about 10 years now. Frequently index additions mark short/medium term tops in relative performance. This MSCI inclusion is not necessarily that impactful, the funds following that index probably bought ~2% of the company today. GDX/GDXJ is more defining in the gold miner space and frequently over 5% of a stock is held in each of those funds.
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17 | 576790 | 0.355 |
33 | 1675872 | 0.350 |
17 | 1054440 | 0.345 |
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