Sprott Gold Miners ETF (NYSEARCA:SGDM) Stock Passes Below Fifty Day Moving Average – Here’s Why

Sprott Gold Miners ETF (NYSEARCA:SGDM) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $75.36 and traded as low as $65.47. Sprott Gold Miners ETF shares last traded at $65.89, with a volume of 91,340 shares trading hands.

Sprott Gold Miners ETF Price Performance

The business’s 50-day moving average price is $75.36 and its two-hundred day moving average price is $76.01. The company has a market capitalization of $602.89 million, a price-to-earnings ratio of -1,068.29 and a beta of 0.49.

Institutional Investors Weigh In On Sprott Gold Miners ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in SGDM. Asset One Wealth Management LLC acquired a new stake in shares of Sprott Gold Miners ETF in the fourth quarter valued at approximately $17,836,000. Royal Bank of Canada raised its position in shares of Sprott Gold Miners ETF by 91.5% in the fourth quarter. Royal Bank of Canada now owns 85,704 shares of the company’s stock valued at $5,967,000 after buying an additional 40,947 shares in the last quarter. Stifel Financial Corp raised its position in shares of Sprott Gold Miners ETF by 266.3% in the fourth quarter. Stifel Financial Corp now owns 53,610 shares of the company’s stock valued at $3,733,000 after buying an additional 38,973 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Sprott Gold Miners ETF in the fourth quarter valued at approximately $2,372,000. Finally, D.A. Davidson & CO. raised its position in shares of Sprott Gold Miners ETF by 90.6% in the fourth quarter. D.A. Davidson & CO. now owns 50,735 shares of the company’s stock valued at $3,533,000 after buying an additional 24,122 shares in the last quarter.

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.