Sprott Gold Miners ETF (NYSEARCA:SGDM) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Shares of Sprott Gold Miners ETF (NYSEARCA:SGDM) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $30.32 and traded as low as $27.75. Sprott Gold Miners ETF shares last traded at $27.95, with a volume of 14,077 shares changing hands.

Sprott Gold Miners ETF Price Performance

The business’s fifty day simple moving average is $30.17 and its two-hundred day simple moving average is $29.61. The company has a market cap of $253.18 million, a PE ratio of 24.90 and a beta of 0.70.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. National Bank of Canada FI raised its stake in Sprott Gold Miners ETF by 17.5% in the 2nd quarter. National Bank of Canada FI now owns 5,390 shares of the company’s stock valued at $143,000 after purchasing an additional 803 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Sprott Gold Miners ETF by 2.3% in the second quarter. Commonwealth Equity Services LLC now owns 30,080 shares of the company’s stock valued at $802,000 after buying an additional 672 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Sprott Gold Miners ETF in the second quarter worth about $67,000. Captrust Financial Advisors boosted its position in Sprott Gold Miners ETF by 2.4% during the third quarter. Captrust Financial Advisors now owns 202,659 shares of the company’s stock worth $6,278,000 after acquiring an additional 4,824 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in Sprott Gold Miners ETF during the 3rd quarter valued at about $218,000.

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.