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

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $64.92 and traded as low as $63.93. Sprott Gold Miners ETF shares last traded at $64.45, with a volume of 40,506 shares changing hands.

Sprott Gold Miners ETF Stock Up 2.2%

The company has a market cap of $570.38 million, a PE ratio of -1,044.94 and a beta of 0.53. The company’s fifty day moving average is $64.92 and its 200-day moving average is $74.41.

Hedge Funds Weigh In On Sprott Gold Miners ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. 180 Wealth Advisors LLC increased its position in Sprott Gold Miners ETF by 88.3% during the second quarter. 180 Wealth Advisors LLC now owns 15,316 shares of the company’s stock valued at $963,000 after acquiring an additional 7,182 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Sprott Gold Miners ETF in the first quarter worth about $103,000. Gateway Wealth Partners LLC purchased a new position in Sprott Gold Miners ETF in the first quarter worth about $552,000. Waverly Advisors LLC bought a new stake in shares of Sprott Gold Miners ETF during the 1st quarter valued at about $274,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Sprott Gold Miners ETF in the 1st quarter worth approximately $657,000.

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.