Sprott Lithium Miners ETF (NASDAQ:LITP) Sees Significant Decline in Short Interest

Sprott Lithium Miners ETF (NASDAQ:LITP) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 17,089 shares, a decrease of 88.4% from the May 14th total of 147,431 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 77,659 shares, the days-to-cover ratio is currently 0.2 days.

Sprott Lithium Miners ETF Stock Performance

Sprott Lithium Miners ETF stock traded up $0.34 during mid-day trading on Tuesday, hitting $13.72. The company’s stock had a trading volume of 75,919 shares, compared to its average volume of 148,606. The company has a 50 day moving average of $15.54 and a 200-day moving average of $13.88. The stock has a market cap of $52.68 million, a PE ratio of 16.45 and a beta of 1.20. Sprott Lithium Miners ETF has a one year low of $5.25 and a one year high of $18.56.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Several hedge funds have recently bought and sold shares of the business. Sankala Group LLC bought a new position in Sprott Lithium Miners ETF in the 4th quarter valued at $56,000. Sprott Inc. grew its position 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 acquiring an additional 6,275 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Sprott Lithium Miners ETF during the 4th quarter worth $138,000. Bank of New York Mellon Corp bought a new position in shares of Sprott Lithium Miners ETF during the 1st quarter worth $221,000. Finally, Susquehanna International Group LLP bought a new position in shares of Sprott Lithium Miners ETF during the 3rd quarter worth $160,000.

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.