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

Shares of Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) gapped down before the market opened on Wednesday . The stock had previously closed at $191.74, but opened at $180.15. Goldman Sachs Hedge Industry VIP ETF shares last traded at $180.38, with a volume of 903 shares.

Goldman Sachs Hedge Industry VIP ETF Price Performance

The stock has a 50-day simple moving average of $174.35 and a 200 day simple moving average of $161.72. The company has a market capitalization of $548.43 million, a PE ratio of 28.77 and a beta of 1.09.

Institutional Investors Weigh In On Goldman Sachs Hedge Industry VIP ETF

Several institutional investors and hedge funds have recently made changes to their positions in GVIP. NewEdge Advisors LLC grew its stake in Goldman Sachs Hedge Industry VIP ETF by 100.4% in the 1st quarter. NewEdge Advisors LLC now owns 91,780 shares of the company’s stock valued at $13,375,000 after acquiring an additional 45,992 shares during the last quarter. Raymond James Financial Inc. raised its position in Goldman Sachs Hedge Industry VIP ETF by 1,226.9% during the second quarter. Raymond James Financial Inc. now owns 41,624 shares of the company’s stock worth $5,760,000 after acquiring an additional 38,487 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Goldman Sachs Hedge Industry VIP ETF by 4,855.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,590 shares of the company’s stock valued at $5,358,000 after purchasing an additional 33,892 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Goldman Sachs Hedge Industry VIP ETF in the fourth quarter valued at about $4,830,000. Finally, Bank of America Corp DE grew its position in shares of Goldman Sachs Hedge Industry VIP ETF by 7.1% in the first quarter. Bank of America Corp DE now owns 173,420 shares of the company’s stock valued at $25,272,000 after purchasing an additional 11,505 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.