Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Down – Here’s What Happened

Sprott Gold Miners ETF (NYSEARCA:SGDM) shares gapped down prior to trading on Friday. The stock had previously closed at $73.24, but opened at $68.34. Sprott Gold Miners ETF shares last traded at $68.15, with a volume of 1,605 shares changing hands.

Sprott Gold Miners ETF Stock Down 1.1%

The business has a 50-day simple moving average of $78.09 and a two-hundred day simple moving average of $72.81. The stock has a market capitalization of $595.57 million, a price-to-earnings ratio of -1,102.29 and a beta of 0.56.

Institutional Investors Weigh In On Sprott Gold Miners ETF

Several institutional investors have recently made changes to their positions in SGDM. New Harbor Financial Group LLC raised its position in shares of 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 during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Sprott Gold Miners ETF by 3.3% during the third quarter. AdvisorNet Financial Inc now owns 5,635 shares of the company’s stock valued at $394,000 after acquiring an additional 180 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Sprott Gold Miners ETF by 70.3% in the 2nd quarter. Baird Financial Group Inc. now owns 43,620 shares of the company’s stock valued at $2,742,000 after purchasing an additional 18,010 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Sprott Gold Miners ETF by 36.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 7,819 shares of the company’s stock worth $493,000 after purchasing an additional 2,088 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Sprott Gold Miners ETF by 88.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 15,316 shares of the company’s stock worth $963,000 after purchasing an additional 7,182 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.