Sprott Nickel Miners ETF (NASDAQ:NIKL) Short Interest Down 79.1% in February

Sprott Nickel Miners ETF (NASDAQ:NIKL) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 88,307 shares, a decrease of 79.1% from the January 29th total of 423,519 shares. Based on an average daily trading volume, of 419,387 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 419,387 shares, the days-to-cover ratio is currently 0.2 days.

Sprott Nickel Miners ETF Trading Down 1.5%

NASDAQ NIKL traded down $0.30 on Thursday, hitting $19.36. 89,013 shares of the company’s stock traded hands, compared to its average volume of 506,623. The firm’s 50-day moving average price is $17.94 and its two-hundred day moving average price is $15.32. The firm has a market capitalization of $78.98 million, a PE ratio of 18.88 and a beta of 0.78. Sprott Nickel Miners ETF has a 1-year low of $7.25 and a 1-year high of $21.85.

Sprott Nickel Miners ETF Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Monday, December 22nd. Shareholders of record on Thursday, December 18th were issued a $0.3975 dividend. This represents a yield of 286.0%. The ex-dividend date of this dividend was Thursday, December 18th.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nwam LLC purchased a new stake in shares of Sprott Nickel Miners ETF in the fourth quarter worth about $2,413,000. Fortis Group Advisors LLC purchased a new stake in Sprott Nickel Miners ETF in the 4th quarter worth approximately $1,746,000. Hancock Prospecting Pty Ltd acquired a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter worth approximately $1,101,000. Jane Street Group LLC purchased a new position in shares of Sprott Nickel Miners ETF during the 2nd quarter valued at approximately $725,000. Finally, Bank of Montreal Can purchased a new position in shares of Sprott Nickel Miners ETF during the 2nd quarter valued at approximately $681,000.

Sprott Nickel Miners ETF Company Profile

The Sprott Nickel Miners ETF (NIKL) is an exchange-traded fund that is based on the Nasdaq Sprott Nickel Miners index. The fund tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap. NIKL was launched on Mar 21, 2023 and is issued by Sprott.