Sprott Gold Miners ETF (NYSEARCA:SGDM) Trading 9.3% Higher – Still a Buy?

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s share price was up 9.3% on Tuesday . The stock traded as high as $72.60 and last traded at $72.60. Approximately 3,733 shares were traded during trading, a decline of 95% from the average daily volume of 77,638 shares. The stock had previously closed at $66.44.

Sprott Gold Miners ETF Stock Performance

The firm’s 50-day moving average price is $74.34 and its two-hundred day moving average price is $76.24. The firm has a market capitalization of $657.34 million, a price-to-earnings ratio of -1,164.76 and a beta of 0.49.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in Sprott Gold Miners ETF by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 5,263 shares of the company’s stock valued at $397,000 after purchasing an additional 137 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Sprott Gold Miners ETF by 36.6% in the fourth quarter. Farther Finance Advisors LLC now owns 690 shares of the company’s stock valued at $48,000 after acquiring an additional 185 shares during the last quarter. Beaumont Financial Advisors LLC raised its stake in shares of Sprott Gold Miners ETF by 2.5% in the first quarter. Beaumont Financial Advisors LLC now owns 8,113 shares of the company’s stock valued at $612,000 after acquiring an additional 200 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Sprott Gold Miners ETF by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,981 shares of the company’s stock valued at $347,000 after acquiring an additional 320 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Sprott Gold Miners ETF by 1.5% in the first quarter. D.A. Davidson & CO. now owns 51,504 shares of the company’s stock valued at $3,888,000 after acquiring an additional 769 shares during 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.