Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Short Interest Up 125.0% in August

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 854,280 shares, an increase of 125.0% from the August 15th total of 379,627 shares. Based on an average daily volume of 276,312 shares, the short-interest ratio is presently 3.1 days. Currently, 4.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Global X Lithium & Battery Tech ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wick Capital Partners LLC acquired a new position in Global X Lithium & Battery Tech ETF in the fourth quarter valued at approximately $607,000. Baker Avenue Asset Management LP purchased a new position in shares of Global X Lithium & Battery Tech ETF during the 4th quarter valued at approximately $3,793,000. Purpose Unlimited Inc. acquired a new position in shares of Global X Lithium & Battery Tech ETF in the 4th quarter valued at $1,596,000. Petra Financial Advisors Inc. purchased a new stake in Global X Lithium & Battery Tech ETF during the first quarter worth $730,000. Finally, Chicago Wealth Management Inc. purchased a new stake in Global X Lithium & Battery Tech ETF during the fourth quarter worth $5,041,000.

Global X Lithium & Battery Tech ETF Stock Performance

NYSEARCA LIT traded down $1.69 on Monday, reaching $69.80. 43,532 shares of the company’s stock traded hands, compared to its average volume of 375,917. Global X Lithium & Battery Tech ETF has a fifty-two week low of $51.30 and a fifty-two week high of $91.98. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 21.25 and a beta of 1.03. The stock has a 50 day moving average price of $72.65 and a 200-day moving average price of $76.94.

About Global X Lithium & Battery Tech ETF

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.