Sprott Lithium Miners ETF (NASDAQ:LITP) Trading 4.3% Higher – What’s Next?

Sprott Lithium Miners ETF (NASDAQ:LITP) shares were up 4.3% during mid-day trading on Friday . The stock traded as high as $11.22 and last traded at $11.15. 42,501 shares traded hands during trading, a decline of 64% from the average daily volume of 117,525 shares. The stock had previously closed at $10.69.

Sprott Lithium Miners ETF Trading Up 4.3%

The stock has a market capitalization of $40.25 million, a P/E ratio of 16.45 and a beta of 1.37. The business has a 50-day moving average price of $12.28 and a 200 day moving average price of $13.65.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Several institutional investors have recently bought and sold shares of LITP. Bank of New York Mellon Corp purchased a new position in shares of Sprott Lithium Miners ETF in the 1st quarter worth $221,000. Sankala Group LLC purchased a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter valued at about $56,000. Jane Street Group LLC purchased a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter valued at about $138,000. Sprott Inc. lifted its holdings in shares of Sprott Lithium Miners ETF by 16.3% in the 4th quarter. Sprott Inc. now owns 44,740 shares of the company’s stock valued at $539,000 after acquiring an additional 6,275 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Sprott Lithium Miners ETF in the 3rd quarter valued at about $160,000.

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.