Global X Silver Miners ETF (NYSEARCA:SIL) Sees Large Volume Increase – Still a Buy?

Shares of Global X Silver Miners ETF (NYSEARCA:SIL) saw an uptick in trading volume on Monday . 1,029,871 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 1,681,124 shares.The stock last traded at $78.22 and had previously closed at $77.66.

Global X Silver Miners ETF Price Performance

The business has a 50-day moving average of $69.50 and a 200-day moving average of $57.70. The company has a market capitalization of $4.30 billion, a P/E ratio of 32.07 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its position in Global X Silver Miners ETF by 12.8% during the second quarter. Cetera Investment Advisers now owns 213,696 shares of the company’s stock worth $10,287,000 after acquiring an additional 24,249 shares during the period. CWM LLC purchased a new stake in shares of Global X Silver Miners ETF during the second quarter worth about $107,000. Farther Finance Advisors LLC raised its position in shares of Global X Silver Miners ETF by 335.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,700 shares of the company’s stock worth $178,000 after purchasing an additional 2,850 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Global X Silver Miners ETF during the 2nd quarter worth about $929,000. Finally, Juncture Wealth Strategies LLC lifted its stake in Global X Silver Miners ETF by 5.2% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 25,266 shares of the company’s stock valued at $1,216,000 after buying an additional 1,253 shares in the last quarter.

About Global X Silver Miners ETF

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.