Sprott Gold Miners ETF (NYSEARCA:SGDM) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of Sprott Gold Miners ETF (NYSEARCA:SGDM) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $75.36 and traded as low as $65.47. Sprott Gold Miners ETF shares last traded at $65.89, with a volume of 91,340 shares trading hands.

Sprott Gold Miners ETF Trading Down 8.2%

The stock has a market capitalization of $602.89 million, a price-to-earnings ratio of -1,068.29 and a beta of 0.49. The firm’s 50 day simple moving average is $75.36 and its 200-day simple moving average is $76.01.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Centaurus Financial Inc. acquired a new position in shares of Sprott Gold Miners ETF during the 1st quarter worth about $103,000. Gateway Wealth Partners LLC acquired a new position in shares of Sprott Gold Miners ETF during the 1st quarter worth about $552,000. Waverly Advisors LLC acquired a new position in shares of Sprott Gold Miners ETF during the 1st quarter worth about $274,000. Barometer Capital Management Inc. acquired a new position in shares of Sprott Gold Miners ETF during the 1st quarter worth about $657,000. Finally, D.A. Davidson & CO. increased its stake in shares of Sprott Gold Miners ETF by 1.5% during the 1st quarter. D.A. Davidson & CO. now owns 51,504 shares of the company’s stock worth $3,888,000 after purchasing an additional 769 shares during 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.