Global X Silver Miners ETF (NYSEARCA:SIL) Hits New 12-Month High – Should You Buy?

Global X Silver Miners ETF (NYSEARCA:SIL)’s share price reached a new 52-week high on Tuesday . The company traded as high as $63.35 and last traded at $62.89, with a volume of 2757650 shares trading hands. The stock had previously closed at $61.49.

Global X Silver Miners ETF Trading Up 2.3%

The stock’s 50-day moving average price is $52.49 and its two-hundred day moving average price is $45.17. The stock has a market capitalization of $2.79 billion, a P/E ratio of 32.07 and a beta of 0.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SIL. Bogart Wealth LLC grew its position in shares of Global X Silver Miners ETF by 3,080.0% during the 2nd quarter. Bogart Wealth LLC now owns 636 shares of the company’s stock valued at $31,000 after acquiring an additional 616 shares during the period. Spire Wealth Management grew its position in shares of Global X Silver Miners ETF by 59.8% during the 1st quarter. Spire Wealth Management now owns 834 shares of the company’s stock valued at $33,000 after acquiring an additional 312 shares during the period. Parallel Advisors LLC bought a new position in shares of Global X Silver Miners ETF during the 1st quarter valued at approximately $39,000. SBI Securities Co. Ltd. grew its position in shares of Global X Silver Miners ETF by 31.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 891 shares of the company’s stock valued at $43,000 after acquiring an additional 213 shares during the period. Finally, Copia Wealth Management bought a new position in shares of Global X Silver Miners ETF during the 4th quarter valued at approximately $48,000.

Global X Silver Miners ETF Company Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.