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

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 40,243 shares, a decline of 82.3% from the May 31st total of 227,453 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 146,670 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of Sprott Nickel Miners ETF by 2.5% during the 4th quarter. Bank of Montreal Can now owns 59,326 shares of the company’s stock worth $933,000 after acquiring an additional 1,458 shares in the last quarter. Royal Bank of Canada purchased a new position in Sprott Nickel Miners ETF in the fourth quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its stake in Sprott Nickel Miners ETF by 921.7% in the first quarter. AdvisorNet Financial Inc now owns 3,065 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in Sprott Nickel Miners ETF during the fourth quarter worth approximately $79,000. Finally, Moors & Cabot Inc. acquired a new stake in Sprott Nickel Miners ETF during the fourth quarter worth approximately $168,000.

Sprott Nickel Miners ETF Price Performance

NASDAQ:NIKL opened at $12.93 on Friday. Sprott Nickel Miners ETF has a 12 month low of $11.09 and a 12 month high of $21.85. The firm has a market capitalization of $57.41 million, a PE ratio of 18.88 and a beta of 0.79. The business’s fifty day moving average price is $15.72 and its 200 day moving average price is $16.61.

About Sprott Nickel Miners ETF

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.