Sprott Gold Miners ETF (NYSEARCA:SGDM) Reaches New 1-Year High – Here’s What Happened

Sprott Gold Miners ETF (NYSEARCA:SGDM) hit a new 52-week high on Tuesday . The company traded as high as $90.77 and last traded at $87.19, with a volume of 158123 shares traded. The stock had previously closed at $86.77.

Sprott Gold Miners ETF Stock Up 2.7%

The company has a market cap of $867.33 million, a PE ratio of -1,475.57 and a beta of 0.44. The firm has a 50 day simple moving average of $72.64 and a 200-day simple moving average of $61.46.

Sprott Gold Miners ETF Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, December 22nd. Stockholders of record on Thursday, December 18th were given a $0.727 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a dividend yield of 75.0%. Sprott Gold Miners ETF’s payout ratio is presently -470.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGDM. D.A. Davidson & CO. purchased a new stake in shares of Sprott Gold Miners ETF during the third quarter worth about $1,650,000. Cetera Investment Advisers lifted its stake in Sprott Gold Miners ETF by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 240,329 shares of the company’s stock valued at $10,872,000 after acquiring an additional 23,150 shares during the period. New Harbor Financial Group LLC boosted its holdings in shares of Sprott Gold Miners ETF by 55.8% in the 2nd quarter. New Harbor Financial Group LLC now owns 64,228 shares of the company’s stock valued at $2,906,000 after acquiring an additional 23,002 shares during the last quarter. United Capital Financial Advisors LLC acquired a new stake in shares of Sprott Gold Miners ETF in the third quarter worth $1,341,000. Finally, Raymond James Financial Inc. increased its stake in shares of Sprott Gold Miners ETF by 25.5% in the third quarter. Raymond James Financial Inc. now owns 81,448 shares of the company’s stock worth $5,050,000 after acquiring an additional 16,563 shares during the period.

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.