Sprott Gold Miners ETF (NYSEARCA:SGDM) Short Interest Down 30.0% in October

Sprott Gold Miners ETF (NYSEARCA:SGDM) saw a large decline in short interest in 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 shares of the company are sold short. Based on an average daily volume of 77,600 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 77,600 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Sprott Gold Miners ETF

A number of large investors have recently modified their holdings of the company. Kiker Wealth Management LLC grew its position in Sprott Gold Miners ETF by 391.5% during the 2nd quarter. Kiker Wealth Management LLC now owns 580 shares of the company’s stock worth $26,000 after acquiring an additional 462 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Sprott Gold Miners ETF by 467.4% in the third quarter. Farther Finance Advisors LLC now owns 505 shares of the company’s stock worth $31,000 after buying an additional 416 shares during the period. Hilltop National Bank purchased a new stake in Sprott Gold Miners ETF during the 2nd quarter valued at $57,000. Blue Trust Inc. boosted its position in Sprott Gold Miners ETF by 381.3% during the 2nd quarter. Blue Trust Inc. now owns 1,444 shares of the company’s stock valued at $65,000 after buying an additional 1,144 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its holdings in Sprott Gold Miners ETF by 47.2% in the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 2,292 shares of the company’s stock worth $104,000 after acquiring an additional 735 shares during the last quarter.

Sprott Gold Miners ETF Stock Performance

NYSEARCA SGDM traded down $0.04 during trading on Monday, hitting $58.26. 51,478 shares of the company’s stock traded hands, compared to its average volume of 64,256. The business has a 50 day moving average of $59.14 and a 200-day moving average of $49.78. Sprott Gold Miners ETF has a 12-month low of $26.60 and a 12-month high of $69.22. The stock has a market capitalization of $556.38 million, a price-to-earnings ratio of -944.58 and a beta of 0.44.

About Sprott Gold Miners ETF

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.