Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Down – Should You Sell?

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $73.21, but opened at $67.05. Sprott Gold Miners ETF shares last traded at $67.92, with a volume of 52,122 shares trading hands.

Sprott Gold Miners ETF Stock Performance

The stock’s 50 day simple moving average is $83.22 and its 200 day simple moving average is $70.28. The firm has a market cap of $655.94 million, a PE ratio of -1,110.12 and a beta of 0.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGDM. Mercer Global Advisors Inc. ADV purchased a new stake in Sprott Gold Miners ETF during the fourth quarter valued at about $2,372,000. EP Wealth Advisors LLC bought a new position in shares of Sprott Gold Miners ETF during the 4th quarter valued at about $262,000. NewEdge Advisors LLC raised its holdings in shares of Sprott Gold Miners ETF by 37.0% during the 4th quarter. NewEdge Advisors LLC now owns 9,895 shares of the company’s stock valued at $689,000 after buying an additional 2,671 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Sprott Gold Miners ETF during the 4th quarter valued at about $122,000. Finally, Asset One Wealth Management LLC bought a new stake in Sprott Gold Miners ETF in the 4th quarter worth approximately $17,836,000.

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.