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 in 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. Based on an average daily trading volume, of 77,659 shares, the short-interest ratio is presently 0.2 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Trading of Sprott Lithium Miners ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sankala Group LLC purchased a new stake in Sprott Lithium Miners ETF during the 4th quarter valued at $56,000. Jane Street Group LLC bought a new position in Sprott Lithium Miners ETF in the 4th quarter valued at $138,000. Bank of New York Mellon Corp bought a new position in Sprott Lithium Miners ETF in the 1st quarter valued at $221,000. Susquehanna International Group LLP bought a new position in Sprott Lithium Miners ETF in the 3rd quarter valued at $160,000. Finally, Sprott Inc. grew its position in Sprott Lithium Miners ETF by 189.8% in the 3rd quarter. Sprott Inc. now owns 38,465 shares of the company’s stock valued at $347,000 after acquiring an additional 25,190 shares during the last quarter.

Sprott Lithium Miners ETF Trading Up 2.5%

NASDAQ:LITP traded up $0.34 during midday trading on Tuesday, hitting $13.72. 75,919 shares of the company traded hands, compared to its average volume of 148,606. The firm’s fifty day moving average is $15.54 and its 200-day moving average is $13.88. Sprott Lithium Miners ETF has a 12-month low of $5.25 and a 12-month high of $18.56. The firm has a market capitalization of $52.68 million, a P/E ratio of 16.45 and a beta of 1.20.

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.