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

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 9,825 shares, a growth of 232.6% from the April 30th total of 2,954 shares. Based on an average trading volume of 56,858 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Sprott Gold Miners ETF Stock Performance

Shares of NYSEARCA SGDM traded up $2.60 during mid-day trading on Friday, reaching $74.40. 29,127 shares of the company’s stock were exchanged, compared to its average volume of 80,359. The firm has a market capitalization of $680.76 million, a price-to-earnings ratio of -1,206.26 and a beta of 0.49. Sprott Gold Miners ETF has a 52-week low of $42.40 and a 52-week high of $96.50. The company’s 50-day moving average is $75.18 and its 200-day moving average is $75.74.

Hedge Funds Weigh In On Sprott Gold Miners ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in Sprott Gold Miners ETF in the 1st quarter valued at about $103,000. Gateway Wealth Partners LLC acquired a new stake in Sprott Gold Miners ETF in the 1st quarter valued at about $552,000. Waverly Advisors LLC acquired a new stake in Sprott Gold Miners ETF in the 1st quarter valued at about $274,000. Barometer Capital Management Inc. acquired a new stake in Sprott Gold Miners ETF in the 1st quarter valued at about $657,000. Finally, D.A. Davidson & CO. raised its position in 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 purchasing an additional 769 shares in 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.