Sprott Gold Miners ETF (NYSEARCA:SGDM) Sees Significant Drop in Short Interest

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 37,600 shares, a decline of 30.0% from the September 30th total of 53,700 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 77,600 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 77,600 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.4% of the company’s shares are sold short.

Sprott Gold Miners ETF Price Performance

Shares of SGDM traded down $0.04 during midday trading on Monday, hitting $58.26. The stock had a trading volume of 51,478 shares, compared to its average volume of 64,256. Sprott Gold Miners ETF has a 1 year low of $26.60 and a 1 year high of $69.22. The firm has a market cap of $556.38 million, a PE ratio of -944.58 and a beta of 0.44. The stock’s 50 day moving average is $59.14 and its 200 day moving average is $49.78.

Hedge Funds Weigh In On Sprott Gold Miners ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its position in Sprott Gold Miners ETF by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 240,329 shares of the company’s stock valued at $10,872,000 after purchasing an additional 23,150 shares during the period. Riggs Asset Managment Co. Inc. purchased a new position in Sprott Gold Miners ETF during the 1st quarter valued at about $3,551,000. LPL Financial LLC increased its position in Sprott Gold Miners ETF by 3.9% during the 1st quarter. LPL Financial LLC now owns 93,378 shares of the company’s stock valued at $3,543,000 after purchasing an additional 3,471 shares during the period. New Harbor Financial Group LLC increased its position in Sprott Gold Miners ETF by 55.8% during the 2nd quarter. New Harbor Financial Group LLC now owns 64,228 shares of the company’s stock valued at $2,906,000 after purchasing an additional 23,002 shares during the period. Finally, HC Advisors LLC increased its position in Sprott Gold Miners ETF by 0.7% during the 1st quarter. HC Advisors LLC now owns 48,140 shares of the company’s stock valued at $1,826,000 after purchasing an additional 325 shares during the period.

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.