Sprott Critical Materials ETF (NASDAQ:SETM) Sees Significant Growth in Short Interest

Sprott Critical Materials ETF (NASDAQ:SETM) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 157,925 shares, a growth of 1,372.4% from the March 31st total of 10,726 shares. Based on an average daily volume of 288,549 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Sprott Critical Materials ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SETM. Uniplan Investment Counsel Inc. bought a new position in shares of Sprott Critical Materials ETF in the fourth quarter worth approximately $34,000. Federation des caisses Desjardins du Quebec bought a new stake in shares of Sprott Critical Materials ETF during the 4th quarter valued at $38,000. Kestra Advisory Services LLC bought a new stake in shares of Sprott Critical Materials ETF during the 4th quarter valued at $40,000. Bank of Montreal Can purchased a new position in shares of Sprott Critical Materials ETF during the 4th quarter valued at $43,000. Finally, AdvisorNet Financial Inc purchased a new position in shares of Sprott Critical Materials ETF during the 3rd quarter valued at $49,000.

Sprott Critical Materials ETF Stock Performance

Shares of NASDAQ SETM traded down $0.45 during trading on Friday, hitting $36.42. The company had a trading volume of 174,981 shares, compared to its average volume of 428,450. Sprott Critical Materials ETF has a 12 month low of $13.82 and a 12 month high of $40.55. The firm has a market capitalization of $590.73 million, a P/E ratio of 29.93 and a beta of 0.97. The stock has a 50 day simple moving average of $34.99 and a 200 day simple moving average of $31.66.

About Sprott Critical Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap. SETM was launched on Feb 1, 2023 and is managed by Sprott.