Sprott Gold Miners ETF (NYSEARCA:SGDM) Sees Significant Growth in Short Interest

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 67,482 shares, a growth of 712.5% from the July 30th total of 8,305 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 46,032 shares, the days-to-cover ratio is currently 1.5 days.

Sprott Gold Miners ETF Stock Up 0.4%

Shares of NYSEARCA SGDM traded up $0.36 during trading hours on Thursday, hitting $86.00. 17,431 shares of the stock were exchanged, compared to its average volume of 66,579. Sprott Gold Miners ETF has a 12 month low of $51.41 and a 12 month high of $96.50. The firm has a fifty day moving average price of $67.80 and a 200-day moving average price of $73.95. The company has a market cap of $761.10 million, a PE ratio of -1,394.34 and a beta of 0.53.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Sprott Gold Miners ETF by 36.6% in the fourth quarter. Farther Finance Advisors LLC now owns 690 shares of the company’s stock valued at $48,000 after acquiring an additional 185 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Sprott Gold Miners ETF during the 3rd quarter worth approximately $52,000. Centaurus Financial Inc. acquired a new stake in shares of Sprott Gold Miners ETF during the 1st quarter worth approximately $103,000. Empowered Funds LLC purchased a new position in shares of Sprott Gold Miners ETF during the 4th quarter valued at approximately $122,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Sprott Gold Miners ETF by 132.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the company’s stock valued at $141,000 after purchasing an additional 1,300 shares in the last quarter.

About Sprott Gold Miners ETF

The Sprott Gold Miners ETF (SGDM) is an exchange-traded fund that mostly invests in materials equity. The fund tracks an equity index of gold mining firms. Firms with higher revenue growth, lower debt to equity and higher free cash flow yield receive more weight. SGDM was launched on Jul 15, 2014 and is managed by Sprott.