Global X Silver Miners ETF (NYSEARCA:SIL) Hits New 1-Year High – Here’s Why

Global X Silver Miners ETF (NYSEARCA:SIL)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $103.39 and last traded at $102.27, with a volume of 1654121 shares. The stock had previously closed at $98.35.

Global X Silver Miners ETF Stock Performance

The stock has a market cap of $6.25 billion, a PE ratio of 32.07 and a beta of 0.71. The company’s 50-day moving average price is $80.92 and its two-hundred day moving average price is $67.70.

Hedge Funds Weigh In On Global X Silver Miners ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Encompass More Asset Management increased its holdings in shares of Global X Silver Miners ETF by 39.2% in the third quarter. Encompass More Asset Management now owns 37,516 shares of the company’s stock worth $2,687,000 after buying an additional 10,573 shares during the period. Avalon Capital Management bought a new position in Global X Silver Miners ETF during the 3rd quarter worth approximately $842,000. Baird Financial Group Inc. increased its stake in Global X Silver Miners ETF by 39.2% in the 2nd quarter. Baird Financial Group Inc. now owns 170,802 shares of the company’s stock worth $8,222,000 after purchasing an additional 48,107 shares during the period. Capital Fund Management S.A. bought a new stake in Global X Silver Miners ETF in the second quarter valued at approximately $1,564,000. Finally, Cetera Investment Advisers lifted its position in Global X Silver Miners ETF by 12.8% in the second quarter. Cetera Investment Advisers now owns 213,696 shares of the company’s stock valued at $10,287,000 after purchasing an additional 24,249 shares during the last quarter.

Global X Silver Miners ETF Company Profile

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.