Sprott Nickel Miners ETF (NASDAQ:NIKL) Short Interest Update

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 12,300 shares, a drop of 79.7% from the February 28th total of 60,600 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 23,000 shares, the short-interest ratio is presently 0.5 days.

Sprott Nickel Miners ETF Stock Performance

Shares of NIKL stock traded down $0.07 on Wednesday, reaching $9.20. 8,308 shares of the company were exchanged, compared to its average volume of 26,135. The company has a market cap of $7.36 million, a price-to-earnings ratio of 19.45 and a beta of 0.34. Sprott Nickel Miners ETF has a 1 year low of $9.06 and a 1 year high of $16.20. The business has a 50-day moving average price of $9.95 and a 200 day moving average price of $11.35.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

An institutional investor recently bought a new position in Sprott Nickel Miners ETF stock. Sonoma Private Wealth LLC purchased a new position in shares of Sprott Nickel Miners ETF (NASDAQ:NIKL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,113 shares of the company’s stock, valued at approximately $310,000. Sonoma Private Wealth LLC owned approximately 3.64% of Sprott Nickel Miners ETF as of its most recent filing with the Securities & Exchange Commission.

About Sprott Nickel Miners ETF

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.