Sprott Lithium Miners ETF (NASDAQ:LITP) Trading Up 4.3% – Time to Buy?

Sprott Lithium Miners ETF (NASDAQ:LITP) shares shot up 4.3% on Friday . The stock traded as high as $11.22 and last traded at $11.15. 42,501 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 117,525 shares. The stock had previously closed at $10.69.

Sprott Lithium Miners ETF Trading Up 4.3%

The company has a market cap of $40.25 million, a price-to-earnings ratio of 16.45 and a beta of 1.37. The business’s 50 day moving average price is $12.28 and its 200-day moving average price is $13.65.

Institutional Investors Weigh In On Sprott Lithium Miners ETF

Several hedge funds have recently bought and sold shares of LITP. Sankala Group LLC acquired a new position in shares of Sprott Lithium Miners ETF in the fourth quarter valued at approximately $56,000. Jane Street Group LLC bought a new stake in Sprott Lithium Miners ETF in the 4th quarter valued at $138,000. Susquehanna International Group LLP bought a new stake in Sprott Lithium Miners ETF in the 3rd quarter valued at $160,000. Bank of New York Mellon Corp acquired a new position in Sprott Lithium Miners ETF in the 1st quarter valued at $221,000. Finally, Sprott Inc. grew its holdings in Sprott Lithium Miners ETF by 16.3% in the 4th quarter. Sprott Inc. now owns 44,740 shares of the company’s stock valued at $539,000 after buying an additional 6,275 shares in the last quarter.

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.