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VanEck Gold Miners ETF (GDX) Short Interest Ratio & Short Volume

VanEck Gold Miners ETF logo
$97.60 +3.01 (+3.18%)
As of 05/11/2026 04:10 PM Eastern
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VanEck Gold Miners ETF Short Interest Overview

As of April 30, 2026, VanEck Gold Miners ETF (GDX) had a short interest of 39.89 million shares sold short, representing 12.95% of the public float. This marks a 2.40% increase in short interest since the prior report. The short interest ratio (days to cover) is 2.0, meaning it would take 2.0 days of the average trading volume of 27.03 million shares to cover all short positions.

Current Short Interest
39,893,409 shares
Previous Short Interest
38,958,681 shares
Change Vs. Previous Month
2.40%
Dollar Volume Sold Short
$3.52 billion
Short Interest Ratio
2.0 Days to Cover
Last Record Date
April 30, 2026
Outstanding Shares
308,100,000 shares
Short Percent of Float
12.95%
Today's Trading Volume
24,370,555 shares
Average Trading Volume
27,027,174 shares
Today's Volume Vs. Average
90%
Short Selling VanEck Gold Miners ETF?
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Short Interest ChartDays to Cover ChartShort Percent of Float Chart

GDX Short Interest Over Time

GDX Days to Cover Over Time

GDX Percentage of Float Shorted Over Time

VanEck Gold Miners ETF Tesla Short Interest History & Recent Changes

Export
Report DateTotal Shares Sold ShortDollar Volume Sold ShortChange from Previous ReportPercentage of Float ShortedDays to CoverPrice on Report Date
4/30/202639,893,409 shares $3.52 billion +2.4%12.9%2 $88.29
4/15/202638,958,681 shares $3.81 billion +8.3%12.5%2.02 $97.77
3/31/202635,988,049 shares $3.30 billion -18.4%11.6%0.99 $91.77
3/13/202644,081,354 shares $4.11 billion +1.5%14.4%1.49 $93.26
2/27/202643,415,532 shares $5.03 billion +3.3%14.2%2.15 $115.84
2/13/202642,037,053 shares $4.37 billion -6.7%13.8%1.34 $103.94
1/30/202645,052,422 shares $4.24 billion +5.0%14.8%1.1 $94.20
1/15/202642,907,340 shares $4.17 billion -3.8%14.3%2.04 $97.11
12/31/202544,586,428 shares $3.82 billion -6.1%14.9%2.12 $85.77
12/15/202547,482,606 shares $4.03 billion +8.8%15.8%2.24 $84.85
11/28/202543,663,765 shares $3.63 billion +2.2%14.5%1.83 $83.23
11/14/202542,722,820 shares $3.25 billion +6.3%14.2%1.7 $76.16
10/31/202540,185,970 shares $2.90 billion -2.2%13.4%1.03 $72.06
10/15/202541,080,000 shares $3.35 billion 0.0%13.7%1.7 $81.47
9/30/202541,090,000 shares $3.14 billion -16.0%N/A2 $76.40
9/15/202548,920,000 shares $3.45 billion +16.9%N/A2.4 $70.48
8/31/202541,850,000 shares $2.64 billion +0.9%14.3%2.2 $63.17
8/15/202541,460,000 shares $2.42 billion +17.3%N/A2.2 $58.28
7/31/202535,360,000 shares $1.83 billion -0.5%12.1%1.7 $51.64
7/15/202535,530,000 shares $1.83 billion -8.1%N/A1.7 $51.62
6/30/202538,670,000 shares $2.01 billion -16.6%13.0%1.7 $52.06
6/15/202546,360,000 shares $2.52 billion +23.5%15.1%2 $54.46
5/31/202537,540,000 shares $1.89 billion -12.5%12.2%1.6 $50.28
5/15/202542,910,000 shares $1.99 billion +5.4%N/A1.9 $46.49
4/30/202540,730,000 shares $2.00 billion +8.0%N/A1.8 $49.01
4/15/202537,710,000 shares $1.91 billion +2.3%N/A1.7 $50.53
3/14/202535,500,000 shares $1.55 billion +18.9%N/A2 $43.64
2/28/202529,850,000 shares $1.19 billion -9.1%N/A1.7 $39.72
2/14/202532,820,000 shares $1.35 billion +2.8%N/A1.9 $41.08
1/31/202531,930,000 shares $1.24 billion -11.2%N/A1.6 $38.96
1/15/202535,970,000 shares $1.32 billion +7.2%N/A1.8 $36.72

GDX Short Interest - Frequently Asked Questions

Short interest is the volume of VanEck Gold Miners ETF shares that have been sold short but have not yet been closed out or covered. As of April 30th, investors have sold 39,893,409 shares of GDX short. 12.95% of VanEck Gold Miners ETF's shares are currently sold short. Learn More on VanEck Gold Miners ETF's current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. GDX shares currently have a short interest ratio of 2.0. Learn More on VanEck Gold Miners ETF's short interest ratio.

As of the most recent reporting period, the following institutional investors, funds, and major shareholders have reported short positions of VanEck Gold Miners ETF: Hsbc Holdings PLC, CMT Capital Markets Trading GmbH, Elliott Investment Management L.P., Tudor Investment Corp ET AL, Polymer Capital Management US LLC, Millennium Management LLC, Caption Management LLC, Balyasny Asset Management L.P., WS Management Lllp, Schonfeld Strategic Advisors LLC, Jain Global LLC, Anson Funds Management LP, Lombard Odier Asset Management USA Corp, Royal Bank of Canada, Squarepoint Ops LLC, Walleye Trading LLC, PEAK6 LLC, Maven Securities LTD, K2 Principal Fund L.P., Clear Street Group Inc., Barclays PLC, Volterra Technologies LP, Marshall Wace LLP, Walleye Capital LLC, DLD Asset Management LP, Bank of Nova Scotia, Vontobel Holding Ltd., Wells Fargo & Company MN, Jane Street Group LLC, CMT Capital Markets Trading GmbH, Bank of Montreal Can, DCF Advisers LLC, LPL Financial LLC, Twin Tree Management LP, Situational Awareness LP, and Fore Capital LLC. These positions are disclosed in Form 13F filings with the Securities and Exchange Commission.

Companies that have a short interest as a percentage of float below 10% indicates positive investor sentiment and few short sellers. Stocks with a short interest percentage above 10% is considered high, suggesting some investors are pessimistic about the stock. Companies with a short interest percentage of 20% or more indicates widespread negative sentiment. 12.95% of VanEck Gold Miners ETF's floating shares are currently sold short.

VanEck Gold Miners ETF saw a increase in short interest in the month of April. As of April 30th, there was short interest totaling 39,893,409 shares, an increase of 2.4% from the previous total of 38,958,681 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

12.95% of VanEck Gold Miners ETF's shares are currently sold short. Here is how the short interest of companies compare to VanEck Gold Miners ETF: VanEck Junior Gold Miners ETF (9.73%), Materials Select Sector SPDR Fund (8.86%), SPDR S&P Metals & Mining ETF (10.36%), Global X Silver Miners ETF (2.60%), Amplify Junior Silver Miners ETF (3.48%), VanEck Rare Earth and Strategic Metals ETF (4.19%), iShares MSCI Global Gold Miners ETF (0.40%), Global X Lithium & Battery Tech ETF (4.62%), iShares U.S. Basic Materials ETF (0.94%), MicroSectors Gold Miners 3x Leveraged ETN (19.27%),

As of the most recent reporting period, the following stocks had the largest short interest positions: SPDR S&P 500 ETF Trust ($86.09 billion), Invesco QQQ ($39.89 billion), iShares Russell 2000 ETF ($26.13 billion), Western Digital Corporation ($12.66 billion), Salesforce Inc. ($12.29 billion), Sandisk Corporation ($11.87 billion), SPDR S&P Biotech ETF ($9.82 billion), Lumentum Holdings Inc. ($8.51 billion), iShares 20+ Year Treasury Bond ETF ($7.76 billion), and Bloom Energy Corporation ($7.40 billion). View all of the most shorted stocks.

Short selling GDX is an investing strategy that aims to generate trading profit from VanEck Gold Miners ETF as its price is falling. GDX shares are trading up $3.01 today. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for VanEck Gold Miners ETF occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of GDX, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including GDX, twice per month. The most recent reporting period available is April, 30 2026.

Understanding short interest metrics can help you assess how traders are positioning around a stock like GDX:

  • Shares Sold Short: The total number of shares that have been sold by short sellers but have not yet been covered or closed out. A high number may indicate bearish sentiment.
  • Short Float: The percentage of a company’s publicly available shares (or "float") that are sold short. A higher short float suggests a greater portion of the stock is being bet against.
  • Days to Cover (Short Interest Ratio): This estimates how many days it would take short sellers to cover their positions, based on average daily trading volume. Higher values can signal potential for a short squeeze if buying pressure increases.

These metrics are often used by traders to gauge sentiment, volatility risk, and the potential for price movements based on short covering activity.


Related Companies
Short Interest Tools

This page (NYSEARCA:GDX) was last updated on 5/12/2026 by MarketBeat.com Staff.
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