Sprott Gold Miners ETF (NYSEARCA:SGDM) Sets New 12-Month High – Time to Buy?

Sprott Gold Miners ETF (NYSEARCA:SGDM) reached a new 52-week high on Wednesday . The stock traded as high as $92.77 and last traded at $92.7220, with a volume of 33107 shares. The stock had previously closed at $91.15.

Sprott Gold Miners ETF Trading Up 1.9%

The firm has a market capitalization of $911.44 million, a P/E ratio of -1,542.53 and a beta of 0.44. The firm has a 50-day moving average of $80.24 and a two-hundred day moving average of $67.16.

Sprott Gold Miners ETF Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, December 22nd. Stockholders of record on Thursday, December 18th were issued a $0.727 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a dividend yield of 75.0%. Sprott Gold Miners ETF’s dividend payout ratio is -470.18%.

Hedge Funds Weigh In On Sprott Gold Miners ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asset One Wealth Management LLC acquired a new stake in Sprott Gold Miners ETF during the 4th quarter worth approximately $17,836,000. Royal Bank of Canada raised its position in shares of Sprott Gold Miners ETF by 91.5% in the 4th quarter. Royal Bank of Canada now owns 85,704 shares of the company’s stock worth $5,967,000 after acquiring an additional 40,947 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Sprott Gold Miners ETF by 266.3% in the 4th quarter. Stifel Financial Corp now owns 53,610 shares of the company’s stock valued at $3,733,000 after purchasing an additional 38,973 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Sprott Gold Miners ETF during the 4th quarter valued at about $2,372,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Sprott Gold Miners ETF during the 3rd quarter valued at about $1,650,000.

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.