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

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 30,528 shares, a growth of 78.6% from the May 31st total of 17,089 shares. Based on an average daily volume of 75,086 shares, the short-interest ratio is currently 0.4 days. Approximately 0.8% of the shares of the company are sold short.

Sprott Lithium Miners ETF Stock Down 1.4%

Shares of LITP opened at $12.30 on Friday. The business has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $14.09. Sprott Lithium Miners ETF has a 52 week low of $6.02 and a 52 week high of $18.56. The stock has a market cap of $44.90 million, a price-to-earnings ratio of 16.45 and a beta of 1.31.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Large investors have recently added to or reduced their stakes in the company. Sprott Inc. increased its stake in shares of Sprott Lithium Miners ETF by 189.8% in the third quarter. Sprott Inc. now owns 38,465 shares of the company’s stock worth $347,000 after purchasing an additional 25,190 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Sprott Lithium Miners ETF during the 3rd quarter valued at $160,000. Jane Street Group LLC bought a new position in Sprott Lithium Miners ETF in the 4th quarter worth $138,000. Sankala Group LLC bought a new position in Sprott Lithium Miners ETF in the 4th quarter worth $56,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sprott Lithium Miners ETF in the 1st quarter worth $221,000.

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.