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

Kovack Advisors Inc. cut its holdings in Sprott Gold Miners ETF (NYSEARCA:SGDM) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,900 shares of the company’s stock after selling 1,000 shares during the period. Kovack Advisors Inc. owned approximately 0.17% of Sprott Gold Miners ETF worth $462,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of Sprott Gold Miners ETF during the 1st quarter valued at about $4,818,000. Optimum Investment Advisors grew its holdings in Sprott Gold Miners ETF by 12.7% during the second quarter. Optimum Investment Advisors now owns 7,100 shares of the company’s stock valued at $189,000 after purchasing an additional 800 shares during the last quarter. ORG Partners LLC bought a new position in shares of Sprott Gold Miners ETF in the second quarter valued at approximately $69,000. Capital Wealth Alliance LLC acquired a new stake in shares of Sprott Gold Miners ETF in the second quarter worth $205,000. Finally, Commonwealth Equity Services LLC grew its stake in Sprott Gold Miners ETF by 2.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 30,080 shares of the company’s stock valued at $802,000 after buying an additional 672 shares during the last quarter.

Sprott Gold Miners ETF Price Performance

Sprott Gold Miners ETF stock opened at $28.02 on Friday. Sprott Gold Miners ETF has a fifty-two week low of $20.72 and a fifty-two week high of $34.14. The firm has a fifty day moving average price of $31.15 and a two-hundred day moving average price of $29.25. The firm has a market cap of $252.46 million, a price-to-earnings ratio of 24.90 and a beta of 0.70.

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.