Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Significant Decline in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 145,197 shares, a drop of 42.1% from the April 15th total of 250,632 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 102,435 shares, the short-interest ratio is presently 1.4 days.

Institutional Trading of Sprott Nickel Miners ETF

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada bought a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter valued at $27,000. AdvisorNet Financial Inc lifted its position in shares of Sprott Nickel Miners ETF by 921.7% during the 1st quarter. AdvisorNet Financial Inc now owns 3,065 shares of the company’s stock valued at $49,000 after acquiring an additional 2,765 shares during the period. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter valued at $79,000. Moors & Cabot Inc. bought a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter valued at $168,000. Finally, Sprott Inc. bought a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter valued at $268,000.

Sprott Nickel Miners ETF Trading Down 4.0%

NASDAQ:NIKL opened at $15.42 on Tuesday. The stock has a market cap of $68.46 million, a P/E ratio of 18.88 and a beta of 0.89. The stock has a 50 day simple moving average of $16.66 and a 200 day simple moving average of $16.50. Sprott Nickel Miners ETF has a 1-year low of $10.08 and a 1-year high of $21.85.

Sprott Nickel Miners ETF Company Profile

The Sprott Nickel Miners ETF (NIKL) is an exchange-traded fund that is based on the Nasdaq Sprott Nickel Miners index. The fund tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap. NIKL was launched on Mar 21, 2023 and is issued by Sprott.