Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Down – Should You Sell?

Sprott Gold Miners ETF (NYSEARCA:SGDM) shares gapped down before the market opened on Wednesday. The stock had previously closed at $77.85, but opened at $73.71. Sprott Gold Miners ETF shares last traded at $72.90, with a volume of 494 shares traded.

Sprott Gold Miners ETF Stock Performance

The firm has a market capitalization of $599.79 million, a P/E ratio of -1,121.63 and a beta of 0.57. The firm has a 50 day moving average price of $74.55 and a two-hundred day moving average price of $74.62.

Institutional Investors Weigh In On Sprott Gold Miners ETF

Several hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. purchased a new position in Sprott Gold Miners ETF in the 3rd quarter worth about $3,665,000. Kestra Advisory Services LLC raised its holdings in Sprott Gold Miners ETF by 112.7% during the 1st quarter. Kestra Advisory Services LLC now owns 23,021 shares of the company’s stock worth $1,738,000 after buying an additional 12,200 shares during the period. Barometer Capital Management Inc. purchased a new stake in Sprott Gold Miners ETF during the first quarter valued at about $657,000. Baird Financial Group Inc. lifted its stake in Sprott Gold Miners ETF by 70.3% during the second quarter. Baird Financial Group Inc. now owns 43,620 shares of the company’s stock valued at $2,742,000 after buying an additional 18,010 shares in the last quarter. Finally, New Harbor Financial Group LLC lifted its stake in Sprott Gold Miners ETF by 57.8% during the third quarter. New Harbor Financial Group LLC now owns 47,614 shares of the company’s stock valued at $3,527,000 after buying an additional 17,433 shares in the last quarter.

About Sprott Gold Miners ETF

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.