Sprott Gold Miners ETF (NYSEARCA:SGDM) Short Interest Update

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 67,482 shares, an increase of 712.5% from the July 30th total of 8,305 shares. Based on an average daily volume of 46,032 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blair William & Co. IL acquired a new stake in Sprott Gold Miners ETF in the third quarter valued at about $217,000. CreativeOne Wealth LLC purchased a new stake in Sprott Gold Miners ETF in the 3rd quarter valued at approximately $341,000. Private Advisor Group LLC increased its position in Sprott Gold Miners ETF by 7.7% during the 3rd quarter. Private Advisor Group LLC now owns 6,157 shares of the company’s stock worth $382,000 after purchasing an additional 441 shares during the period. UBS Group AG increased its position in Sprott Gold Miners ETF by 4.2% during the 3rd quarter. UBS Group AG now owns 339,233 shares of the company’s stock worth $21,032,000 after purchasing an additional 13,743 shares during the period. Finally, Nicolet Advisory Services LLC purchased a new position in shares of Sprott Gold Miners ETF during the 3rd quarter worth approximately $206,000.

Sprott Gold Miners ETF Stock Performance

Shares of SGDM opened at $88.25 on Wednesday. The stock has a market capitalization of $781.01 million, a P/E ratio of -1,430.82 and a beta of 0.53. The company’s fifty day moving average is $67.49 and its two-hundred day moving average is $73.87. Sprott Gold Miners ETF has a 1 year low of $51.00 and a 1 year high of $96.50.

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.