Short Interest in Sprott Lithium Miners ETF (NASDAQ:LITP) Rises By 344.8%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 147,431 shares, an increase of 344.8% from the April 30th total of 33,144 shares. Based on an average daily volume of 126,388 shares, the short-interest ratio is currently 1.2 days. Approximately 3.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

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

Sprott Lithium Miners ETF Stock Up 1.4%

Sprott Lithium Miners ETF stock traded up $0.22 during trading on Friday, hitting $16.25. The stock had a trading volume of 56,157 shares, compared to its average volume of 152,344. Sprott Lithium Miners ETF has a 1 year low of $5.06 and a 1 year high of $18.56. The stock’s 50 day moving average is $15.18 and its two-hundred day moving average is $13.69. The stock has a market cap of $62.40 million, a price-to-earnings ratio of 16.45 and a beta of 1.28.

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.