Sprott Lithium Miners ETF (NASDAQ:LITP – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 119,625 shares, a growth of 157.4% from the August 15th total of 46,476 shares. Based on an average daily volume of 50,908 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.3% of the company’s stock are short sold.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC grew its stake in Sprott Lithium Miners ETF by 19.6% in the second quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock valued at $477,000 after purchasing an additional 6,261 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sprott Lithium Miners ETF during the 1st quarter worth approximately $221,000. Finally, Sankala Group LLC bought a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter worth approximately $56,000.
Sprott Lithium Miners ETF Price Performance
LITP stock traded down $0.12 during midday trading on Monday, hitting $10.32. The company’s stock had a trading volume of 32,259 shares, compared to its average volume of 108,067. Sprott Lithium Miners ETF has a twelve month low of $7.59 and a twelve month high of $18.56. The company’s fifty day moving average price is $11.10 and its 200 day moving average price is $13.25. The stock has a market capitalization of $37.26 million, a P/E ratio of 16.45 and a beta of 1.40.
About Sprott Lithium Miners ETF
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.
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