iShares Lithium Miners and Producers ETF (NASDAQ:ILIT) Short Interest Down 92.7% in May

iShares Lithium Miners and Producers ETF (NASDAQ:ILIT) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 6,398 shares, a decline of 92.7% from the April 30th total of 88,217 shares. Based on an average daily volume of 56,929 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the company are sold short.

iShares Lithium Miners and Producers ETF Price Performance

ILIT stock traded down $0.18 during midday trading on Friday, reaching $20.48. 17,299 shares of the company were exchanged, compared to its average volume of 41,233. The business has a 50-day moving average price of $19.59 and a two-hundred day moving average price of $17.54. iShares Lithium Miners and Producers ETF has a one year low of $7.01 and a one year high of $23.80. The firm has a market capitalization of $22.53 million, a price-to-earnings ratio of 1.98 and a beta of 1.44.

Hedge Funds Weigh In On iShares Lithium Miners and Producers ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Group One Trading LLC bought a new position in iShares Lithium Miners and Producers ETF during the fourth quarter worth $77,000. Smartleaf Asset Management LLC acquired a new position in shares of iShares Lithium Miners and Producers ETF in the fourth quarter valued at about $29,000. Finally, Farther Finance Advisors LLC grew its stake in shares of iShares Lithium Miners and Producers ETF by 252.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $28,000 after acquiring an additional 1,300 shares in the last quarter.

About iShares Lithium Miners and Producers ETF

The iShares Lithium Miners and Producers ETF (ILIT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is passively managed, providing exposure to the lithium industry by investing in stocks of lithium miners and compound manufacturers from all around the world. ILIT was launched on Jun 21, 2023 and is managed by BlackRock.