Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Down – Here’s Why

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $75.85, but opened at $71.48. Sprott Gold Miners ETF shares last traded at $71.20, with a volume of 3,344 shares traded.

Sprott Gold Miners ETF Stock Performance

The stock has a market cap of $662.03 million, a P/E ratio of -1,166.70 and a beta of 0.59. The firm has a 50-day moving average price of $79.77 and a 200-day moving average price of $73.87.

Institutional Trading of Sprott Gold Miners ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SGDM. Farther Finance Advisors LLC grew its stake in shares of Sprott Gold Miners ETF by 467.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 505 shares of the company’s stock worth $31,000 after buying an additional 416 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Sprott Gold Miners ETF in the 3rd quarter worth approximately $216,000. Premier Financial Group purchased a new stake in shares of Sprott Gold Miners ETF in the 3rd quarter worth approximately $123,000. Optimum Investment Advisors grew its stake in shares of Sprott Gold Miners ETF by 10.3% in the 3rd quarter. Optimum Investment Advisors now owns 10,700 shares of the company’s stock worth $663,000 after buying an additional 1,000 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Sprott Gold Miners ETF in the 3rd quarter worth approximately $1,650,000.

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.