Short ETFs Rise on Gold Miner Weakness

ETF Trends

Exchange traded funds that bet against gold miner shares rallied Monday on weakness in the downtrodden sector.

Market Vectors Gold Miners (GDX - News) was down 1.4% in recent trading after posting big gains last week. The sector has been a lackluster performer in 2012 with many investors opting for bullion-backed ETFs rather than gold miner stocks. [Are Bullion ETFs Responsible for Gold Miners’ Dismal Performance?]

Direxion Daily Gold Miners Bear 3x Shares (DUST - News) was among the top-gaining ETFs on Monday morning. It’s a 300% leveraged ETFs that rises when gold miners fall.

GDX is down 18% over the past three months.

Direxion Daily Gold Miners Bear 3x Shares

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