Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Up – Still a Buy?

Sprott Gold Miners ETF (NYSEARCA:SGDM) gapped up before the market opened on Friday . The stock had previously closed at $61.05, but opened at $64.82. Sprott Gold Miners ETF shares last traded at $64.89, with a volume of 4,750 shares traded.

Sprott Gold Miners ETF Stock Performance

The stock has a market capitalization of $602.62 million, a PE ratio of -1,067.80 and a beta of 0.49. The business has a 50 day moving average of $74.75 and a two-hundred day moving average of $76.18.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SGDM. GSA Capital Partners LLP acquired a new position in Sprott Gold Miners ETF during the 3rd quarter valued at about $231,000. HC Advisors LLC increased its holdings in shares of Sprott Gold Miners ETF by 1.7% in the third quarter. HC Advisors LLC now owns 48,117 shares of the company’s stock valued at $2,983,000 after purchasing an additional 811 shares during the period. Dempze Nancy E acquired a new position in shares of Sprott Gold Miners ETF in the third quarter valued at about $202,000. Clifford Swan Investment Counsel LLC acquired a new position in shares of Sprott Gold Miners ETF in the third quarter valued at about $684,000. Finally, Sprott Inc. increased its holdings in shares of Sprott Gold Miners ETF by 68.2% in the third quarter. Sprott Inc. now owns 39,420 shares of the company’s stock valued at $2,444,000 after purchasing an additional 15,990 shares during the period.

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.