Sprott Gold Miners ETF (NYSEARCA:SGDM) Short Interest Down 52.8% in August
by Doug Wharley · The Cerbat GemSprott Gold Miners ETF (NYSEARCA:SGDM – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 31,883 shares, a drop of 52.8% from the August 15th total of 67,482 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 50,560 shares, the days-to-cover ratio is currently 0.6 days.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. purchased a new position in Sprott Gold Miners ETF in the first quarter worth about $103,000. Sanctuary Advisors LLC bought a new stake in Sprott Gold Miners ETF in the first quarter worth $235,000. Waverly Advisors LLC purchased a new position in Sprott Gold Miners ETF during the first quarter worth $274,000. Private Advisor Group LLC raised its stake in shares of Sprott Gold Miners ETF by 2.7% in the first quarter. Private Advisor Group LLC now owns 5,263 shares of the company’s stock valued at $397,000 after acquiring an additional 137 shares during the period. Finally, NewEdge Wealth LLC purchased a new stake in shares of Sprott Gold Miners ETF in the fourth quarter valued at $399,000.
Sprott Gold Miners ETF Price Performance
Shares of NYSEARCA SGDM traded down $1.04 during mid-day trading on Wednesday, reaching $77.71. The company’s stock had a trading volume of 43,392 shares, compared to its average volume of 64,809. Sprott Gold Miners ETF has a 52 week low of $55.27 and a 52 week high of $96.50. The stock has a fifty day moving average of $72.58 and a two-hundred day moving average of $73.62. The firm has a market capitalization of $628.67 million, a PE ratio of -1,259.93 and a beta of 0.59.
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.