Sprott Gold Miners ETF (NYSEARCA:SGDM) Short Interest Down 49.2% in July

Sprott Gold Miners ETF (NYSEARCA:SGDM) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 8,305 shares, a drop of 49.2% from the July 15th total of 16,342 shares. Based on an average trading volume of 28,065 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Sprott Gold Miners ETF Stock Performance

SGDM stock traded up $1.57 during midday trading on Monday, hitting $76.81. 37,869 shares of the stock were exchanged, compared to its average volume of 67,603. The stock has a market cap of $679.77 million, a price-to-earnings ratio of -1,245.34 and a beta of 0.53. Sprott Gold Miners ETF has a fifty-two week low of $48.05 and a fifty-two week high of $96.50. The stock’s 50-day moving average price is $65.49 and its 200-day moving average price is $73.81.

Institutional Trading of Sprott Gold Miners ETF

Large investors have recently made changes to their positions in the stock. Asset One Wealth Management LLC acquired a new stake in Sprott Gold Miners ETF during the fourth quarter worth approximately $17,836,000. Royal Bank of Canada grew its stake in shares of Sprott Gold Miners ETF by 91.5% in the fourth quarter. Royal Bank of Canada now owns 85,704 shares of the company’s stock valued at $5,967,000 after buying an additional 40,947 shares in the last quarter. Stifel Financial Corp lifted its holdings in Sprott Gold Miners ETF by 266.3% in the 4th quarter. Stifel Financial Corp now owns 53,610 shares of the company’s stock worth $3,733,000 after buying an additional 38,973 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sprott Gold Miners ETF in the 4th quarter valued at approximately $2,372,000. Finally, D.A. Davidson & CO. raised its stake in shares of Sprott Gold Miners ETF by 90.6% in the 4th quarter. D.A. Davidson & CO. now owns 50,735 shares of the company’s stock valued at $3,533,000 after purchasing an additional 24,122 shares in the last quarter.

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.