Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Gap Down – Should You Sell?

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $77.85, but opened at $73.71. Sprott Gold Miners ETF shares last traded at $72.90, with a volume of 494 shares trading hands.

Sprott Gold Miners ETF Trading Down 1.0%

The firm’s fifty day simple moving average is $74.92 and its two-hundred day simple moving average is $74.79. The company has a market capitalization of $632.48 million, a price-to-earnings ratio of -1,184.41 and a beta of 0.57.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new position in shares of Sprott Gold Miners ETF in the 3rd quarter valued at $401,000. Money Concepts Capital Corp acquired a new stake in shares of Sprott Gold Miners ETF during the 3rd quarter worth about $396,000. Allworth Financial LP increased its position in shares of Sprott Gold Miners ETF by 78.5% during the 3rd quarter. Allworth Financial LP now owns 357 shares of the company’s stock worth $26,000 after purchasing an additional 157 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of Sprott Gold Miners ETF by 25.0% during the 3rd quarter. 180 Wealth Advisors LLC now owns 19,140 shares of the company’s stock worth $1,418,000 after purchasing an additional 3,824 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Sprott Gold Miners ETF by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,026 shares of the company’s stock worth $2,076,000 after purchasing an additional 720 shares during the last quarter.

Sprott Gold Miners ETF Company Profile

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.