Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) Reaches New 52-Week High – Here’s Why

Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $177.61 and last traded at $177.61, with a volume of 682 shares. The stock had previously closed at $174.32.

Goldman Sachs Hedge Industry VIP ETF Price Performance

The company has a market cap of $533.28 million, a price-to-earnings ratio of 28.77 and a beta of 1.08. The business’s 50-day simple moving average is $160.63 and its 200-day simple moving average is $157.18.

Hedge Funds Weigh In On Goldman Sachs Hedge Industry VIP ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GVIP. Jane Street Group LLC raised its position in Goldman Sachs Hedge Industry VIP ETF by 449.5% during the first quarter. Jane Street Group LLC now owns 11,962 shares of the company’s stock worth $1,410,000 after acquiring an additional 9,785 shares during the last quarter. StoneX Group Inc. acquired a new position in Goldman Sachs Hedge Industry VIP ETF during the second quarter worth about $208,000. Raymond James Financial Inc. raised its position in Goldman Sachs Hedge Industry VIP ETF by 1,226.9% during the second quarter. Raymond James Financial Inc. now owns 41,624 shares of the company’s stock worth $5,760,000 after acquiring an additional 38,487 shares during the last quarter. Bank of America Corp DE raised its position in Goldman Sachs Hedge Industry VIP ETF by 5.1% during the second quarter. Bank of America Corp DE now owns 155,110 shares of the company’s stock worth $21,463,000 after acquiring an additional 7,474 shares during the last quarter. Finally, Truist Financial Corp raised its position in Goldman Sachs Hedge Industry VIP ETF by 26.4% during the third quarter. Truist Financial Corp now owns 18,382 shares of the company’s stock worth $2,817,000 after acquiring an additional 3,835 shares during the last quarter.

About Goldman Sachs Hedge Industry VIP ETF

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.