Global X Silver Miners ETF (NYSEARCA:SIL) Shares Down 5.6% – Here’s Why

Global X Silver Miners ETF (NYSEARCA:SIL) shares traded down 5.6% on Monday . The company traded as low as $39.88 and last traded at $40.17. 579,573 shares traded hands during trading, a decline of 43% from the average session volume of 1,016,648 shares. The stock had previously closed at $42.57.

Global X Silver Miners ETF Stock Down 6.5%

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 37.12 and a beta of 0.96. The stock’s fifty day moving average is $39.24 and its two-hundred day moving average is $36.82.

Hedge Funds Weigh In On Global X Silver Miners ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. bought a new stake in shares of Global X Silver Miners ETF in the fourth quarter valued at about $346,000. JPMorgan Chase & Co. boosted its position in shares of Global X Silver Miners ETF by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 1,306 shares of the company’s stock valued at $46,000 after acquiring an additional 645 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Global X Silver Miners ETF in the fourth quarter valued at about $381,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Global X Silver Miners ETF by 13.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,500 shares of the company’s stock valued at $427,000 after acquiring an additional 1,600 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Global X Silver Miners ETF by 192.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,800 shares of the company’s stock valued at $121,000 after acquiring an additional 2,500 shares during the period.

Global X Silver Miners ETF Company Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.