Sprott Lithium Miners ETF (NASDAQ:LITP – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 119,625 shares, a growth of 157.4% from the August 15th total of 46,476 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily trading volume, of 50,908 shares, the short-interest ratio is currently 2.3 days.
Sprott Lithium Miners ETF Stock Down 4.3%
NASDAQ LITP opened at $10.44 on Friday. The stock has a market capitalization of $37.69 million, a PE ratio of 16.45 and a beta of 1.40. The company has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $13.27. Sprott Lithium Miners ETF has a 12-month low of $7.38 and a 12-month high of $18.56.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of LITP. Citadel Advisors LLC boosted its holdings in Sprott Lithium Miners ETF by 19.6% in the second quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock worth $477,000 after purchasing an additional 6,261 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Sprott Lithium Miners ETF during the first quarter valued at about $221,000. Sankala Group LLC bought a new position in Sprott Lithium Miners ETF during the fourth quarter valued at about $56,000. Jane Street Group LLC acquired a new stake in shares of Sprott Lithium Miners ETF in the fourth quarter worth about $138,000. Finally, Sprott Inc. boosted its stake in shares of Sprott Lithium Miners ETF by 16.3% during the 4th 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.
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.
Further Reading
- Five stocks we like better than Sprott Lithium Miners ETF
- Copper’s Record Rally Highlights a Deeper Supply Problem
- Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy?
- Optical Cable Corporation Is Starting to Get the Market’s Attention
- Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers
Receive News & Ratings for Sprott Lithium Miners ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprott Lithium Miners ETF and related companies with MarketBeat.com's FREE daily email newsletter.
