While what you're saying is sometimes true, it isn't really right now. There have actually been net inflows into the GDX in the last 6 months. Last month has seen some outflows but not statistically significant in the scheme of RRL trading volumes.
GDXJ probably a bit more relevant because it has seen about US$200M outflow in last 2 months, much of it in the last 2 weeks. But RRL is only about 1% of the GDXJ, so call it US$2M of net selling of RRL.
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