Sprott Gold Miners ETF (NYSEARCA:SGDM) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Sprott Gold Miners ETF (NYSEARCA:SGDM) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $75.16 and traded as low as $69.00. Sprott Gold Miners ETF shares last traded at $71.80, with a volume of 25,470 shares changing hands.

Sprott Gold Miners ETF Price Performance

The firm has a market cap of $656.97 million, a PE ratio of -1,164.11 and a beta of 0.49. The business has a 50-day moving average price of $75.16 and a two-hundred day moving average price of $75.75.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Several hedge funds have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in Sprott Gold Miners ETF by 0.3% during the 4th quarter. UBS Group AG now owns 340,207 shares of the company’s stock valued at $23,689,000 after acquiring an additional 974 shares in the last quarter. Asset One Wealth Management LLC purchased a new position in Sprott Gold Miners ETF during the 4th quarter valued at about $17,836,000. Captrust Financial Advisors increased its holdings in Sprott Gold Miners ETF by 3.6% during the 4th quarter. Captrust Financial Advisors now owns 194,872 shares of the company’s stock valued at $13,569,000 after acquiring an additional 6,757 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Sprott Gold Miners ETF by 8.1% during the 4th quarter. Wells Fargo & Company MN now owns 90,204 shares of the company’s stock valued at $6,281,000 after acquiring an additional 6,794 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Sprott Gold Miners ETF by 91.5% during the 4th quarter. Royal Bank of Canada now owns 85,704 shares of the company’s stock valued at $5,967,000 after acquiring an additional 40,947 shares in 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.