Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Shares Gap Up – Time to Buy?

Shares of Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) gapped up before the market opened on Friday . The stock had previously closed at $169.06, but opened at $176.27. Goldman Sachs Hedge Industry VIP ETF shares last traded at $176.27, with a volume of 713 shares changing hands.

Goldman Sachs Hedge Industry VIP ETF Stock Up 0.6%

The stock’s 50 day moving average price is $168.46 and its 200-day moving average price is $159.59. The stock has a market capitalization of $531.09 million, a PE ratio of 28.77 and a beta of 1.09.

Hedge Funds Weigh In On Goldman Sachs Hedge Industry VIP ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in Goldman Sachs Hedge Industry VIP ETF by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 5,373 shares of the company’s stock valued at $832,000 after purchasing an additional 67 shares during the last quarter. Summit Financial LLC lifted its position in Goldman Sachs Hedge Industry VIP ETF by 0.7% during the fourth quarter. Summit Financial LLC now owns 10,352 shares of the company’s stock valued at $1,603,000 after purchasing an additional 70 shares during the last quarter. Mariner LLC lifted its position in Goldman Sachs Hedge Industry VIP ETF by 4.7% during the fourth quarter. Mariner LLC now owns 2,066 shares of the company’s stock valued at $320,000 after purchasing an additional 92 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Goldman Sachs Hedge Industry VIP ETF by 31.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 698 shares of the company’s stock valued at $107,000 after purchasing an additional 166 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its position in Goldman Sachs Hedge Industry VIP ETF by 1.5% during the fourth quarter. Hudson Value Partners LLC now owns 15,632 shares of the company’s stock valued at $2,422,000 after purchasing an additional 231 shares during the last quarter.

About Goldman Sachs Hedge Industry VIP ETF

The Goldman Sachs Hedge Industry VIP ETF (GVIP) is an exchange-traded fund that is based on the Goldman Sachs Hedge Fund VIP index. The fund tracks an equal-weighted index of the 50 most-frequently held US companies selected from the portfolios of hedge funds. GVIP was launched on Nov 1, 2016 and is managed by Goldman Sachs.