Gdx a strong buy?

VanEck Gold Miners ETF (GDX) is not a strong buy at this time. Here's why:

1. Lack of Analyst Coverage: There are no available analyst consensus rating and price target for GDX, which makes it difficult to gauge the market sentiment and potential returns.
2. Recent Performance: GDX has seen a decrease in holdings by some institutional investors, such as Rathbones Group PLC, which sold a significant portion of its stake in the second quarter. However, other investors, like Daiwa Securities Group Inc., increased their holdings.
3. Institutional Activity: The institutional investor ownership of GDX has seen both additions and reductions, indicating a mixed sentiment. This could be due to differing investment strategies and market interpretations.
4. Market Conditions: The performance of GDX will depend on the broader market conditions and investor sentiment towards gold and the mining sector.
5. Fundamentals: GDX seeks to track the performance of a portfolio of companies within the gold mining sector. It has a moderate expense ratio of 28.03%

In conclusion, while GDX has some positive aspects, the lack of analyst coverage and the absence of a specific target price make it difficult to classify it as a strong buy. Investors should consider other factors and their own investment strategy when making decisions. The mixed institutional activity suggests a nuanced sentiment, which should be weighed against the broader market conditions and the fund's investment strategy.