Sprott Gold Miners ETF (NYSEARCA:SGDM) Short Interest Down 52.8% in August

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 31,883 shares, a decline of 52.8% from the August 15th total of 67,482 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 50,560 shares, the short-interest ratio is currently 0.6 days.

Sprott Gold Miners ETF Stock Performance

NYSEARCA:SGDM traded up $0.07 on Tuesday, reaching $78.75. The company’s stock had a trading volume of 21,492 shares, compared to its average volume of 64,902. Sprott Gold Miners ETF has a 1-year low of $55.27 and a 1-year high of $96.50. The business’s 50-day moving average price is $72.27 and its two-hundred day moving average price is $73.71. The firm has a market cap of $696.94 million, a PE ratio of -1,276.79 and a beta of 0.59.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Asset One Wealth Management LLC bought a new stake in shares of Sprott Gold Miners ETF in the fourth quarter valued at about $17,836,000. D.A. Davidson & CO. grew its holdings in shares of Sprott Gold Miners ETF by 1.5% in the 1st 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 in the last quarter. Baird Financial Group Inc. increased its position in shares of Sprott Gold Miners ETF by 70.3% in the second quarter. Baird Financial Group Inc. now owns 43,620 shares of the company’s stock valued at $2,742,000 after acquiring an additional 18,010 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Sprott Gold Miners ETF by 112.7% during the first quarter. Kestra Advisory Services LLC now owns 23,021 shares of the company’s stock worth $1,738,000 after acquiring an additional 12,200 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Sprott Gold Miners ETF by 88.3% during the second quarter. 180 Wealth Advisors LLC now owns 15,316 shares of the company’s stock valued at $963,000 after purchasing an additional 7,182 shares during 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.