Sprott Gold Miners ETF (NYSEARCA:SGDM) Shares Cross Below 50-Day Moving Average – Time to Sell?

Sprott Gold Miners ETF (NYSEARCA:SGDM)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $29.01 and traded as low as $28.97. Sprott Gold Miners ETF shares last traded at $29.45, with a volume of 33,506 shares trading hands.

Sprott Gold Miners ETF Stock Performance

The stock has a 50 day moving average price of $29.04 and a 200 day moving average price of $29.91. The company has a market cap of $271.65 million, a P/E ratio of 24.90 and a beta of 0.70.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in shares of Sprott Gold Miners ETF by 11.1% in the second quarter. Cetera Investment Advisers now owns 211,341 shares of the company’s stock worth $5,636,000 after buying an additional 21,192 shares during the period. Fiduciary Family Office LLC acquired a new stake in Sprott Gold Miners ETF during the 4th quarter worth about $489,000. CWA Asset Management Group LLC grew its stake in Sprott Gold Miners ETF by 125.0% during the 4th quarter. CWA Asset Management Group LLC now owns 20,700 shares of the company’s stock valued at $575,000 after acquiring an additional 11,502 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Sprott Gold Miners ETF in the 3rd quarter valued at about $246,000. Finally, Hara Capital LLC purchased a new stake in shares of Sprott Gold Miners ETF in the third quarter worth approximately $227,000.

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.