Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) Hits New 12-Month High – Here’s Why

Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $47.19 and last traded at $47.2550, with a volume of 35822 shares trading hands. The stock had previously closed at $46.54.

Goldman Sachs ActiveBeta Emerging Markets Equity ETF Stock Performance

The firm has a market cap of $1.40 billion, a P/E ratio of 13.33 and a beta of 0.62. The firm’s fifty day simple moving average is $44.01 and its 200 day simple moving average is $41.81.

Hedge Funds Weigh In On Goldman Sachs ActiveBeta Emerging Markets Equity ETF

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the 3rd quarter worth approximately $25,000. Bank of Montreal Can bought a new stake in Goldman Sachs ActiveBeta Emerging Markets Equity ETF in the second quarter worth $37,000. Root Financial Partners LLC purchased a new stake in Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the third quarter valued at $42,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF during the fourth quarter valued at $42,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 171.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,560 shares of the company’s stock worth $58,000 after buying an additional 985 shares in the last quarter.

About Goldman Sachs ActiveBeta Emerging Markets Equity ETF

The Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) is an exchange-traded fund that mostly invests in total market equity. The fund tracks an index of emerging market stocks comprising 4 sub-indexes: value, momentum, quality, and low volatility. The index uses multiple factors to pick stocks, and each sub-index receives equal weight. GEM was launched on Sep 29, 2015 and is managed by Goldman Sachs.