Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Shares Gap Up – Time to Buy?

Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) shares gapped up prior to trading on Friday . The stock had previously closed at $169.06, but opened at $176.27. Goldman Sachs Hedge Industry VIP ETF shares last traded at $176.27, with a volume of 713 shares changing hands.

Goldman Sachs Hedge Industry VIP ETF Price Performance

The business’s fifty day simple moving average is $169.05 and its two-hundred day simple moving average is $159.71. The company has a market cap of $531.60 million, a PE ratio of 28.77 and a beta of 1.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GVIP. Main Street Group LTD purchased a new position in Goldman Sachs Hedge Industry VIP ETF in the first quarter valued at $42,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Goldman Sachs Hedge Industry VIP ETF by 31.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 698 shares of the company’s stock worth $107,000 after purchasing an additional 166 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Goldman Sachs Hedge Industry VIP ETF during the third quarter worth about $132,000. Strategic Blueprint LLC purchased a new stake in shares of Goldman Sachs Hedge Industry VIP ETF during the fourth quarter worth about $208,000. Finally, StoneX Group Inc. purchased a new stake in shares of Goldman Sachs Hedge Industry VIP ETF during the second quarter worth about $208,000.

About Goldman Sachs Hedge Industry VIP ETF

The Goldman Sachs Hedge Industry VIP ETF (GVIP) is an exchange-traded fund that is based on the Goldman Sachs Hedge Fund VIP index. The fund tracks an equal-weighted index of the 50 most-frequently held US companies selected from the portfolios of hedge funds. GVIP was launched on Nov 1, 2016 and is managed by Goldman Sachs.