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

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 74,489 shares, a decrease of 55.4% from the January 29th total of 167,028 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 285,969 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 285,969 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.7% of the shares of the stock are short sold.

Sprott Lithium Miners ETF Price Performance

NASDAQ:LITP traded down $0.45 during trading hours on Friday, reaching $13.96. 59,188 shares of the company traded hands, compared to its average volume of 251,915. The firm’s 50-day moving average is $13.62 and its 200-day moving average is $11.08. The stock has a market cap of $62.26 million, a P/E ratio of 16.45 and a beta of 1.04. Sprott Lithium Miners ETF has a 1-year low of $4.63 and a 1-year high of $16.51.

Sprott Lithium Miners ETF Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, December 22nd. Investors of record on Thursday, December 18th were given a dividend of $0.8927 per share. This represents a yield of 780.0%. The ex-dividend date was Thursday, December 18th.

Institutional Investors Weigh In On Sprott Lithium Miners ETF

Several hedge funds have recently modified their holdings of LITP. Sprott Inc. raised its position 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 valued at $347,000 after buying an additional 25,190 shares during the last quarter. Jane Street Group LLC acquired a new stake in Sprott Lithium Miners ETF during the fourth quarter worth approximately $138,000. Finally, Susquehanna International Group LLP purchased a new stake in Sprott Lithium Miners ETF in the 3rd quarter worth approximately $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.