Kovack Advisors Inc. Sells 1,000 Shares of Sprott Gold Miners ETF (NYSEARCA:SGDM)

Kovack Advisors Inc. lessened its holdings in Sprott Gold Miners ETF (NYSEARCA:SGDM) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,900 shares of the company’s stock after selling 1,000 shares during the period. Kovack Advisors Inc.’s holdings in Sprott Gold Miners ETF were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SGDM. Sunbelt Securities Inc. bought a new position in shares of Sprott Gold Miners ETF during the 2nd quarter worth approximately $67,000. ORG Partners LLC bought a new position in shares of Sprott Gold Miners ETF during the second quarter valued at $69,000. National Bank of Canada FI boosted its stake in shares of Sprott Gold Miners ETF by 17.5% in the 2nd quarter. National Bank of Canada FI now owns 5,390 shares of the company’s stock valued at $143,000 after purchasing an additional 803 shares in the last quarter. Optimum Investment Advisors boosted its stake in shares of Sprott Gold Miners ETF by 12.7% in the 2nd quarter. Optimum Investment Advisors now owns 7,100 shares of the company’s stock valued at $189,000 after purchasing an additional 800 shares in the last quarter. Finally, Capital Wealth Alliance LLC bought a new stake in shares of Sprott Gold Miners ETF in the 2nd quarter worth about $205,000.

Sprott Gold Miners ETF Stock Up 0.6 %

Shares of SGDM stock opened at $28.02 on Friday. The company has a market capitalization of $252.46 million, a P/E ratio of 24.90 and a beta of 0.70. Sprott Gold Miners ETF has a 12-month low of $20.72 and a 12-month high of $34.14. The firm has a 50-day moving average price of $31.15 and a 200 day moving average price of $29.25.

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.