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

Sprott Gold Miners ETF (NYSEARCA:SGDM) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $29.01 and traded as low as $28.97. Sprott Gold Miners ETF shares last traded at $29.45, with a volume of 33,506 shares changing hands.

Sprott Gold Miners ETF Price Performance

The company has a market capitalization of $265.34 million, a price-to-earnings ratio of 24.90 and a beta of 0.70. The firm has a fifty day simple moving average of $29.01 and a 200 day simple moving average of $29.89.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Sprott Gold Miners ETF by 11.1% in the second quarter. Cetera Investment Advisers now owns 211,341 shares of the company’s stock valued at $5,636,000 after acquiring an additional 21,192 shares in the last quarter. Captrust Financial Advisors lifted its position in Sprott Gold Miners ETF by 2.4% during the third quarter. Captrust Financial Advisors now owns 202,659 shares of the company’s stock worth $6,278,000 after buying an additional 4,824 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its position in Sprott Gold Miners ETF by 12.2% during the third quarter. Pekin Hardy Strauss Inc. now owns 30,688 shares of the company’s stock worth $951,000 after buying an additional 3,335 shares in the last quarter. CWA Asset Management Group LLC lifted its position in Sprott Gold Miners ETF by 125.0% during the fourth quarter. CWA Asset Management Group LLC now owns 20,700 shares of the company’s stock worth $575,000 after buying an additional 11,502 shares in the last quarter. Finally, Fiduciary Family Office LLC purchased a new position in Sprott Gold Miners ETF during the fourth quarter worth approximately $489,000.

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.