Sprott Lithium Miners ETF (NASDAQ:LITP) Shares Shorted: Short Interest Down 38.9% in September

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 73,075 shares, a drop of 38.9% from the August 31st total of 119,625 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 48,800 shares, the short-interest ratio is currently 1.5 days.

Sprott Lithium Miners ETF Trading Up 1.0%

NASDAQ:LITP opened at $8.98 on Friday. The company has a market capitalization of $32.44 million, a P/E ratio of 16.45 and a beta of 1.40. Sprott Lithium Miners ETF has a 12 month low of $8.77 and a 12 month high of $18.56. The firm has a fifty day simple moving average of $10.80 and a 200-day simple moving average of $12.93.

Institutional Trading of Sprott Lithium Miners ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LITP. Sankala Group LLC purchased a new stake in Sprott Lithium Miners ETF during the 4th quarter valued at about $56,000. Bank of New York Mellon Corp purchased a new position in shares of Sprott Lithium Miners ETF in the first quarter worth about $221,000. Finally, Citadel Advisors LLC raised its stake in shares of 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 during 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.