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

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 8,305 shares, a decrease of 49.2% from the July 15th total of 16,342 shares. Based on an average trading volume of 28,065 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Sprott Gold Miners ETF

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Sprott Gold Miners ETF by 36.6% in the 4th quarter. Farther Finance Advisors LLC now owns 690 shares of the company’s stock valued at $48,000 after buying an additional 185 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Sprott Gold Miners ETF in the third quarter valued at approximately $52,000. Centaurus Financial Inc. bought a new stake in Sprott Gold Miners ETF in the first quarter worth approximately $103,000. Empowered Funds LLC acquired a new position in shares of Sprott Gold Miners ETF during the 4th quarter worth $122,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Sprott Gold Miners ETF by 132.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the company’s stock worth $141,000 after purchasing an additional 1,300 shares during the last quarter.

Sprott Gold Miners ETF Stock Performance

Shares of NYSEARCA:SGDM traded up $1.42 during midday trading on Friday, hitting $75.24. 27,993 shares of the stock were exchanged, compared to its average volume of 67,795. The company has a market capitalization of $665.87 million, a PE ratio of -1,219.88 and a beta of 0.53. Sprott Gold Miners ETF has a 52-week low of $48.05 and a 52-week high of $96.50. The business’s fifty day simple moving average is $65.27 and its two-hundred day simple moving average is $73.90.

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.