Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Sees Strong Trading Volume – Here’s Why

Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) shares saw strong trading volume on Wednesday . 55,108 shares changed hands during mid-day trading, an increase of 324% from the previous session’s volume of 12,984 shares.The stock last traded at $179.97 and had previously closed at $180.54.

Goldman Sachs Hedge Industry VIP ETF Stock Down 0.7%

The company has a market capitalization of $537.63 million, a price-to-earnings ratio of 28.77 and a beta of 1.08. The stock’s fifty day moving average price is $163.56 and its 200-day moving average price is $158.08.

Institutional Trading of Goldman Sachs Hedge Industry VIP ETF

A number of hedge funds and other institutional investors have recently modified their holdings of GVIP. NewEdge Advisors LLC increased its position in shares of Goldman Sachs Hedge Industry VIP ETF by 100.4% in the first quarter. NewEdge Advisors LLC now owns 91,780 shares of the company’s stock valued at $13,375,000 after acquiring an additional 45,992 shares during the last quarter. Raymond James Financial Inc. increased its position 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 acquiring an additional 38,487 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Goldman Sachs Hedge Industry VIP ETF by 4,855.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,590 shares of the company’s stock worth $5,358,000 after buying an additional 33,892 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Goldman Sachs Hedge Industry VIP ETF during the fourth quarter worth $4,830,000. Finally, Bank of America Corp DE increased its holdings in Goldman Sachs Hedge Industry VIP ETF by 7.1% during the first quarter. Bank of America Corp DE now owns 173,420 shares of the company’s stock worth $25,272,000 after buying an additional 11,505 shares during 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.