Global X Silver Miners ETF (NYSEARCA:SIL) Sets New 52-Week High – Still a 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 $103.39 and last traded at $102.27, with a volume of 1654121 shares. The stock had previously closed at $98.35.

Global X Silver Miners ETF Trading Up 4.9%

The company’s fifty day simple moving average is $80.92 and its 200 day simple moving average is $67.70. The stock has a market capitalization of $6.25 billion, a P/E ratio of 32.07 and a beta of 0.71.

Hedge Funds Weigh In On Global X Silver Miners ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC raised its holdings in shares of Global X Silver Miners ETF by 26.9% in the 2nd quarter. AE Wealth Management LLC now owns 995 shares of the company’s stock valued at $48,000 after acquiring an additional 211 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Global X Silver Miners ETF by 31.4% in the second quarter. SBI Securities Co. Ltd. now owns 891 shares of the company’s stock worth $43,000 after purchasing an additional 213 shares during the last quarter. Aptus Capital Advisors LLC increased its position in shares of Global X Silver Miners ETF by 45.3% in the third quarter. Aptus Capital Advisors LLC now owns 722 shares of the company’s stock worth $52,000 after purchasing an additional 225 shares during the last quarter. Creative Planning raised its stake in Global X Silver Miners ETF by 1.2% in the second quarter. Creative Planning now owns 19,867 shares of the company’s stock valued at $956,000 after purchasing an additional 236 shares in the last quarter. Finally, Anson Capital Inc. lifted its position in Global X Silver Miners ETF by 3.8% during the second quarter. Anson Capital Inc. now owns 6,991 shares of the company’s stock valued at $337,000 after purchasing an additional 255 shares during the last quarter.

About Global X Silver Miners ETF

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.