Global X Silver Miners ETF (NYSEARCA:SIL) Shares Gap Down – Here’s Why

Global X Silver Miners ETF (NYSEARCA:SIL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $110.66, but opened at $99.04. Global X Silver Miners ETF shares last traded at $102.48, with a volume of 2,084,111 shares traded.

Global X Silver Miners ETF Price Performance

The company has a fifty day simple moving average of $87.58 and a two-hundred day simple moving average of $70.80. The company has a market capitalization of $6.47 billion, a P/E ratio of 32.07 and a beta of 0.71.

Institutional Investors Weigh In On Global X Silver Miners ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia acquired a new position in Global X Silver Miners ETF during the third quarter valued at approximately $85,405,000. Meitav Investment House Ltd. boosted its holdings in shares of Global X Silver Miners ETF by 87.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 1,220,000 shares of the company’s stock worth $87,151,000 after buying an additional 570,000 shares during the period. Mainstay Capital Management LLC ADV grew its stake in Global X Silver Miners ETF by 1,440.5% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 309,140 shares of the company’s stock valued at $25,819,000 after buying an additional 289,072 shares during the last quarter. BFI Infinity Ltd. raised its holdings in Global X Silver Miners ETF by 210.6% in the 4th quarter. BFI Infinity Ltd. now owns 119,423 shares of the company’s stock worth $9,980,000 after acquiring an additional 227,381 shares during the period. Finally, Royal Bank of Canada lifted its position in Global X Silver Miners ETF by 620.3% during the 1st quarter. Royal Bank of Canada now owns 210,084 shares of the company’s stock worth $8,288,000 after acquiring an additional 180,917 shares during the last quarter.

Global X Silver Miners ETF Company Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.