RE:Why would GDXJ sell their premier shares ? GDXJ is an index fund, and PG is part of the index. They maintain a portfolio that matches the index so their fund tracks the index. In the normal course, they buy or sell shares as money flows into out out of their fund.
However, they are currently changing the makeup of the index. They have to re-balance their portfolio to keep it mathing the index. In the future PG will make up a smaller portion of the index and therefore a smaller part of their portfolio and therefore they have to sell a whack of it.
The GDXJ mess.