Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Stock Jumps 0.5% – Should You Buy?

Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP)’s share price rose 0.5% during mid-day trading on Friday. The company traded as high as $172.07 and last traded at $171.44. Approximately 5,840 shares traded hands during trading, a decline of 52% from the average daily volume of 12,059 shares. The stock had previously closed at $170.51.

Goldman Sachs Hedge Industry VIP ETF Price Performance

The company’s 50 day moving average price is $171.79 and its two-hundred day moving average price is $170.34. The stock has a market capitalization of $582.90 million, a PE ratio of 28.77 and a beta of 1.09.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in shares of Goldman Sachs Hedge Industry VIP ETF by 100.4% during the 1st quarter. NewEdge Advisors LLC now owns 91,780 shares of the company’s stock valued at $13,375,000 after acquiring an additional 45,992 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Goldman Sachs Hedge Industry VIP ETF during the fourth quarter worth about $4,830,000. Bank of America Corp DE raised its stake in Goldman Sachs Hedge Industry VIP ETF by 7.1% during the first quarter. Bank of America Corp DE now owns 173,420 shares of the company’s stock worth $25,272,000 after purchasing an additional 11,505 shares during the period. Royal Harbor Partners LLC purchased a new position in Goldman Sachs Hedge Industry VIP ETF during the fourth quarter worth about $1,765,000. Finally, Hudson Value Partners LLC raised its stake in Goldman Sachs Hedge Industry VIP ETF by 49.6% during the second quarter. Hudson Value Partners LLC now owns 24,163 shares of the company’s stock worth $4,560,000 after purchasing an additional 8,012 shares during the period.

About Goldman Sachs Hedge Industry VIP ETF

The Goldman Sachs Hedge Industry VIP ETF (GVIP) is an exchange-traded fund that is based on the Goldman Sachs Hedge Fund VIP index. The fund tracks an equal-weighted index of the 50 most-frequently held US companies selected from the portfolios of hedge funds. GVIP was launched on Nov 1, 2016 and is managed by Goldman Sachs.