While AUQ benefits from gold's price increases, it (and other miners) is trading as a stock with the general market. It goes down on days when the market is going down, even though gold might be going up as a hedge. On a day when both gold and the market are going down, AUQ really has no chance of rising. And of course there a millions of shares sold short to take advantage of this relationship.
My trading account had a cash deposit today (which TD Ameritrade fails to attribute to a source), but I'm assuming it's the dividend payment. But it seems to be short of the 4 cents a share that was promised. Seems closer to .035 cents a share. Anyone else notice this?
Gold hit 1493 a bit ago, now up over 1500 again. And AUQ and other miners are being pushed and pulled along for the ride.
The dividend wasn't that large. I'm not sure people were buying just to cash in on the dividend. Particularly since the price has been on a slippery slope and the likelihood of loosing any dividend profit when one tried to sell was great. Still, given the amount of short sellers that have piled on lately, the stock is holding up well, but it may be a while before we see any major rebound.
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Gold's rise today isn't necessarily a sign of a continuing trend. World economic events push it upfront as a safe haven, and to the background as stocks seem more profitable. If you really look closely at the economies of the EU, Russia, Asia and the US, one would easily conclude that Gold will break over 2000. But it doesn't seem to hold onto its gains.
I assume today's action is related to the dividend's own by date. Since, as others suggested, settlement on a buy/sale can take three business days, should we expect this price range to hold up through next week? Or will traders start bailing tomorrow?
As is typical with mining stocks (and at the time I didn't know this either), they announced quarterly totals. Check their web site for the numbers. Keep in mind, those numbers are already priced in. The fluctuations you see daily now are the tug of war between shorts selling shares they don't own, and longs who are not willing to sell nor lend their shares for shorting.