Short Interest in Sprott Lithium Miners ETF (NASDAQ:LITP) Declines By 88.4%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 17,089 shares, a drop of 88.4% from the May 14th total of 147,431 shares. Based on an average daily volume of 77,659 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.4% of the company’s stock are short sold.

Sprott Lithium Miners ETF Trading Up 8.1%

NASDAQ LITP traded up $1.07 during mid-day trading on Thursday, hitting $14.27. The company’s stock had a trading volume of 47,300 shares, compared to its average volume of 146,759. The company’s 50 day simple moving average is $15.58 and its 200 day simple moving average is $13.92. Sprott Lithium Miners ETF has a twelve month low of $5.25 and a twelve month high of $18.56. The firm has a market capitalization of $54.80 million, a price-to-earnings ratio of 16.45 and a beta of 1.20.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in Sprott Lithium Miners ETF during the 1st quarter valued at $221,000. Sankala Group LLC bought a new position 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 during the 4th quarter valued at $138,000. Sprott Inc. lifted its stake in Sprott Lithium Miners ETF by 16.3% during 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 in the last quarter. Finally, Susquehanna International Group LLP bought a new position in Sprott Lithium Miners ETF during the 3rd quarter valued at $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.