This article was first published on Gold Investing News on July 21, 2014
Sprott Asset Management LP (NYSE:SGDM) has launched the Sprott Gold Miners Exchange Traded Fund on the New York Stock Exchange under the symbol SGDM. The ETF was created in partnership with ALPS Advisors Inc. (“ALPS”) and Zacks Index Services.
According to the press release:
The goal of the ETF is to provide exposure to the Sprott Zacks Gold Miners Index (NYSE: ZAXSGDM), which seeks to outperform a purely passive, market-capitalization representation of gold stocks. The Index methodology is factor-based and was developed by leveraging Sprott’s long-time experience as a gold investor and Zacks’ research capabilities.
John Ciampaglia, Chief Operating Officer of Sprott:
The market is ready for an innovative new way to gain exposure to gold stocks. To our knowledge, the Sprott Gold Miners ETF is the first gold equities ETF to be based on a proprietary, factors-based index strategy.
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