Short Interest in Sprott Critical Materials ETF (NASDAQ:SETM) Grows By 243.8%

Sprott Critical Materials ETF (NASDAQ:SETM) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 60,621 shares, a growth of 243.8% from the May 14th total of 17,635 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 211,650 shares, the days-to-cover ratio is currently 0.3 days.

Sprott Critical Materials ETF Price Performance

Shares of SETM traded up $1.01 during mid-day trading on Friday, hitting $34.24. 214,147 shares of the company’s stock were exchanged, compared to its average volume of 379,036. The company has a market cap of $573.18 million, a PE ratio of 29.93 and a beta of 0.95. Sprott Critical Materials ETF has a 52 week low of $16.25 and a 52 week high of $40.55. The company has a 50-day simple moving average of $35.91 and a 200 day simple moving average of $33.89.

Hedge Funds Weigh In On Sprott Critical Materials ETF

Several hedge funds have recently made changes to their positions in SETM. Evolution Wealth Management Inc. acquired a new position in Sprott Critical Materials ETF during the first quarter valued at approximately $26,000. NFSG Corp boosted its position in Sprott Critical Materials ETF by 704.5% during the first quarter. NFSG Corp now owns 885 shares of the company’s stock valued at $29,000 after purchasing an additional 775 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in Sprott Critical Materials ETF during the fourth quarter valued at approximately $34,000. Federation des caisses Desjardins du Quebec acquired a new position in Sprott Critical Materials ETF during the fourth quarter valued at approximately $38,000. Finally, Kestra Advisory Services LLC acquired a new position in Sprott Critical Materials ETF during the fourth quarter valued at approximately $40,000.

About Sprott Critical Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap. SETM was launched on Feb 1, 2023 and is managed by Sprott.