Global X Silver Miners ETF (NYSEARCA:SIL) Shares Gap Down – What’s Next?

Global X Silver Miners ETF (NYSEARCA:SIL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $37.61, but opened at $36.77. Global X Silver Miners ETF shares last traded at $36.72, with a volume of 68,046 shares.

Global X Silver Miners ETF Stock Down 3.5 %

The firm’s 50 day simple moving average is $37.47 and its two-hundred day simple moving average is $34.67. The stock has a market capitalization of $1.22 billion, a P/E ratio of 25.53 and a beta of 0.95.

Institutional Investors Weigh In On Global X Silver Miners ETF

Hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Global X Silver Miners ETF by 11.4% in the second quarter. Raymond James & Associates now owns 137,692 shares of the company’s stock valued at $4,295,000 after buying an additional 14,128 shares in the last quarter. Meitav Investment House Ltd. bought a new position in Global X Silver Miners ETF in the 2nd quarter valued at about $13,098,000. International Assets Investment Management LLC acquired a new position in Global X Silver Miners ETF during the 2nd quarter valued at about $29,000. Jeppson Wealth Management LLC bought a new stake in Global X Silver Miners ETF during the 2nd quarter worth approximately $213,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Global X Silver Miners ETF by 21.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,219 shares of the company’s stock worth $3,781,000 after acquiring an additional 21,639 shares in the last quarter.

Global X Silver Miners ETF Company Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.