Firefinch gets a seat at the table in VanEck junior gold miners ETF, shares climb
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Global investment manager VanEck has conducted a re-weighting of its Junior Gold Miners ETF, and ASX stock Firefinch (ASX:FFX) has picked up a seat at the table.
The latest data from the US-listed ETF ((NYSE:GDXJ) shows it holds a portfolio of 97 companies across a number of global jurisdictions.
By geography, around half those stocks are based in Canada, while Australia makes up the next highest weighting with 18 companies (around 18.5% of the total).
They offer simple diversified exposure to different sectors such as gold, technology and ESG investments. Globally, fund inflows to ETFs rose to a new record high above US$600bn in the first half of this year.
Data from the VanEck investment page shows that as at the close of markets on Friday, the fund held $US4.4bn worth of assets.
The latest data shows that as of the start of this week, the ETF had carried out a re-weighting which saw 15 new stocks included.
Firefinch was among the new names, and joined the index with a portfolio weighting of 0.49%.
Shares in FFX, which released its interim full-year report earlier this morning, rose by as much as 15% during Monday trade to ~70c.
Joining Firefinch as an ASX-listed debutante in the latest ETF re-weighting was WA-based miner Westgold Resources (ASX:WGX), which was assigned a portfolio allocation of 0.37% (~$16.28m).
Shares in WGX were up by around 4% in Monday trade.
Of the 18 ASX-listed companies in the ETF, Evolution Mining (ASX:EVN) makes up the largest portfolio weighting at 4.52%.
That marks the second-highest weighting behind Canada-based Pan American Silver Corp (5.47%).