Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Hits New 52-Week High – Time to Buy?

Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $168.41 and last traded at $168.41, with a volume of 698 shares changing hands. The stock had previously closed at $167.09.

Goldman Sachs Hedge Industry VIP ETF Price Performance

The company has a market cap of $505.44 million, a P/E ratio of 28.77 and a beta of 1.05. The company has a fifty day simple moving average of $154.78 and a 200-day simple moving average of $155.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GVIP. Raymond James Financial Inc. increased its holdings in shares of Goldman Sachs Hedge Industry VIP ETF by 1,226.9% in the second quarter. Raymond James Financial Inc. now owns 41,624 shares of the company’s stock valued at $5,760,000 after buying an additional 38,487 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Goldman Sachs Hedge Industry VIP ETF by 4,855.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,590 shares of the company’s stock valued at $5,358,000 after buying an additional 33,892 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Goldman Sachs Hedge Industry VIP ETF in the fourth quarter valued at $4,830,000. Royal Harbor Partners LLC bought a new position in shares of Goldman Sachs Hedge Industry VIP ETF in the fourth quarter valued at $1,765,000. Finally, Private Advisory Group LLC increased its holdings in shares of Goldman Sachs Hedge Industry VIP ETF by 39.0% in the third quarter. Private Advisory Group LLC now owns 35,323 shares of the company’s stock valued at $5,414,000 after buying an additional 9,911 shares in the last quarter.

Goldman Sachs Hedge Industry VIP ETF Company Profile

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.