Sprott Gold Miners ETF (NYSEARCA:SGDM) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $64.92 and traded as low as $63.93. Sprott Gold Miners ETF shares last traded at $64.45, with a volume of 40,506 shares traded.

Sprott Gold Miners ETF Stock Performance

The stock has a market cap of $570.38 million, a P/E ratio of -1,044.94 and a beta of 0.53. The business’s 50-day moving average price is $64.92 and its 200-day moving average price is $74.41.

Institutional Trading of Sprott Gold Miners ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of SGDM. Asset One Wealth Management LLC bought a new position in shares of Sprott Gold Miners ETF in the fourth quarter worth about $17,836,000. Royal Bank of Canada grew its stake in shares of Sprott Gold Miners ETF by 91.5% during the 4th quarter. Royal Bank of Canada now owns 85,704 shares of the company’s stock valued at $5,967,000 after acquiring an additional 40,947 shares during the period. Stifel Financial Corp grew its stake in shares of Sprott Gold Miners ETF by 266.3% during the 4th quarter. Stifel Financial Corp now owns 53,610 shares of the company’s stock valued at $3,733,000 after acquiring an additional 38,973 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Sprott Gold Miners ETF in the 4th quarter worth approximately $2,372,000. Finally, D.A. Davidson & CO. increased its holdings in Sprott Gold Miners ETF by 90.6% in the 4th quarter. D.A. Davidson & CO. now owns 50,735 shares of the company’s stock worth $3,533,000 after acquiring an additional 24,122 shares in the last quarter.

Sprott Gold Miners ETF Company Profile

The Sprott Gold Miners ETF (SGDM) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an equity index of gold mining firms. Firms with higher revenue growth, lower debt to equity and higher free cash flow yield receive more weight. SGDM was launched on Jul 15, 2014 and is managed by Sprott.