Sprott Lithium Miners ETF (NASDAQ:LITP) Trading Up 3.5% – What’s Next?

Sprott Lithium Miners ETF (NASDAQ:LITP)’s stock price rose 3.5% on Tuesday . The stock traded as high as $12.59 and last traded at $12.50. 18,825 shares were traded during trading, a decline of 86% from the average daily volume of 136,953 shares. The stock had previously closed at $12.08.

Sprott Lithium Miners ETF Stock Down 1.4%

The stock has a market capitalization of $44.90 million, a P/E ratio of 16.45 and a beta of 1.31. The firm has a 50-day moving average of $15.31 and a 200 day moving average of $14.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LITP. Sankala Group LLC bought a new position in shares of Sprott Lithium Miners ETF during the 4th quarter worth approximately $56,000. Sprott Inc. raised its stake in Sprott Lithium Miners ETF by 16.3% during the fourth quarter. Sprott Inc. now owns 44,740 shares of the company’s stock worth $539,000 after acquiring an additional 6,275 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Sprott Lithium Miners ETF during the fourth quarter valued at $138,000. Bank of New York Mellon Corp acquired a new stake in shares of Sprott Lithium Miners ETF in the 1st quarter valued at $221,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Sprott Lithium Miners ETF in the 3rd quarter valued at $160,000.

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.