Short Interest in Sprott Lithium Miners ETF (NASDAQ:LITP) Declines By 42.4%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 33,144 shares, a drop of 42.4% from the April 15th total of 57,543 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 92,522 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Sprott Lithium Miners ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Sprott Inc. raised its position in shares of Sprott Lithium Miners ETF by 189.8% during the third quarter. Sprott Inc. now owns 38,465 shares of the company’s stock valued at $347,000 after buying an additional 25,190 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Sprott Lithium Miners ETF during the fourth quarter valued at approximately $138,000. Bank of New York Mellon Corp bought a new stake in shares of Sprott Lithium Miners ETF during the first quarter valued at approximately $221,000. Sankala Group LLC bought a new stake in Sprott Lithium Miners ETF in the fourth quarter worth $56,000. Finally, Susquehanna International Group LLP bought a new stake in Sprott Lithium Miners ETF in the third quarter worth $160,000.

Sprott Lithium Miners ETF Stock Performance

Shares of Sprott Lithium Miners ETF stock traded down $0.31 on Monday, hitting $15.38. 108,011 shares of the company traded hands, compared to its average volume of 158,857. The stock has a market capitalization of $59.06 million, a P/E ratio of 16.45 and a beta of 1.28. Sprott Lithium Miners ETF has a 52 week low of $5.06 and a 52 week high of $18.56. The business has a 50-day simple moving average of $14.62 and a 200 day simple moving average of $13.34.

Sprott Lithium Miners ETF Company Profile

The Sprott Lithium Miners ETF (LITP) is an exchange-traded fund that is based on the Nasdaq Sprott Lithium Miners index. The fund aims to support the worldwide clean energy transition by tracking an index of global companies in the lithium industry. Securities are selected based on revenue and weighted by market-cap. LITP was launched on Feb 1, 2023 and is managed by Sprott.