Sprott Gold Miners ETF (NYSEARCA:SGDM) Sees Large Increase in Short Interest

Sprott Gold Miners ETF (NYSEARCA:SGDM) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 98,836 shares, a growth of 85.4% from the January 15th total of 53,299 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 144,723 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 144,723 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the shares of the company are sold short.

Sprott Gold Miners ETF Stock Performance

Shares of NYSEARCA:SGDM traded up $5.20 during midday trading on Friday, hitting $84.78. The company’s stock had a trading volume of 63,103 shares, compared to its average volume of 100,208. The stock’s 50 day simple moving average is $76.01 and its 200 day simple moving average is $64.03. The stock has a market capitalization of $812.19 million, a price-to-earnings ratio of -1,374.56 and a beta of 0.44. Sprott Gold Miners ETF has a fifty-two week low of $31.80 and a fifty-two week high of $92.72.

Sprott Gold Miners ETF Dividend Announcement

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

Institutional Investors Weigh In On Sprott Gold Miners ETF

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in Sprott Gold Miners ETF by 467.4% during the third quarter. Farther Finance Advisors LLC now owns 505 shares of the company’s stock worth $31,000 after acquiring an additional 416 shares during the period. Advisory Services Network LLC acquired a new stake in Sprott Gold Miners ETF in the 3rd quarter worth $52,000. Blue Trust Inc. grew its position in Sprott Gold Miners ETF by 381.3% in the 2nd quarter. Blue Trust Inc. now owns 1,444 shares of the company’s stock worth $65,000 after purchasing an additional 1,144 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Sprott Gold Miners ETF during the 4th quarter worth about $122,000. Finally, Premier Financial Group acquired a new position in shares of Sprott Gold Miners ETF during the third quarter valued at about $123,000.

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.