Van Eck is a rules based ETF. They are not making any money other than management fees. Their clients are looking for exposure to the junior gold mining sector. And for getting a broad based, safe, rules based exposure, they get the "benefit" of buying high and selling flow, because inevitably money flows out of the ETF when the GP goes down and into the ETF when the GP goes up.
One good reason to avoid index based passive management and do it yourself, I think! Though I've always been a strong willed, independent type.
Cheers,
Tim.
BDR Price at posting:
33.3¢ Sentiment: Buy Disclosure: Held
