Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM) Sets New 52-Week High – Still a Buy?

Goldman Sachs ActiveBeta Emerging Markets Equity ETF (NYSEARCA:GEM)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.63 and last traded at $43.6240, with a volume of 4440 shares trading hands. The stock had previously closed at $43.40.

Goldman Sachs ActiveBeta Emerging Markets Equity ETF Trading Up 1.2%

The stock’s fifty day moving average price is $41.84 and its 200 day moving average price is $40.20. The stock has a market cap of $1.26 billion, a P/E ratio of 13.33 and a beta of 0.62.

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

Several institutional investors have recently modified their holdings of GEM. Betterment LLC grew its position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 19.2% during the second quarter. Betterment LLC now owns 2,098,854 shares of the company’s stock valued at $78,098,000 after acquiring an additional 338,086 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 722.4% in the 2nd quarter. Marshall Wace LLP now owns 147,817 shares of the company’s stock valued at $5,500,000 after purchasing an additional 129,843 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 932.6% during the 2nd quarter. Jane Street Group LLC now owns 131,318 shares of the company’s stock valued at $4,886,000 after purchasing an additional 118,601 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 12.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 915,829 shares of the company’s stock worth $37,302,000 after purchasing an additional 100,365 shares during the period. Finally, AlphaCore Capital LLC raised its position in Goldman Sachs ActiveBeta Emerging Markets Equity ETF by 638.0% in the 2nd quarter. AlphaCore Capital LLC now owns 109,617 shares of the company’s stock worth $4,079,000 after purchasing an additional 94,764 shares during the period.

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.