Short Interest in Sprott Critical Materials ETF (NASDAQ:SETM) Expands By 243.8%

Sprott Critical Materials ETF (NASDAQ:SETM) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 60,621 shares, an increase of 243.8% from the May 14th total of 17,635 shares. Based on an average daily volume of 211,650 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the company are short sold.

Sprott Critical Materials ETF Price Performance

Shares of Sprott Critical Materials ETF stock traded up $2.38 during trading hours on Thursday, hitting $33.23. 269,139 shares of the company’s stock traded hands, compared to its average volume of 380,181. Sprott Critical Materials ETF has a 12-month low of $16.25 and a 12-month high of $40.55. The stock has a market capitalization of $556.27 million, a price-to-earnings ratio of 29.93 and a beta of 0.95. The company has a fifty day simple moving average of $35.90 and a 200-day simple moving average of $33.83.

Hedge Funds Weigh In On Sprott Critical Materials ETF

Large investors have recently made changes to their positions in the stock. Evolution Wealth Management Inc. purchased a new stake in shares of Sprott Critical Materials ETF in the first quarter worth about $26,000. NFSG Corp lifted its holdings in shares of Sprott Critical Materials ETF by 704.5% during the 1st quarter. NFSG Corp now owns 885 shares of the company’s stock worth $29,000 after acquiring an additional 775 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new stake in shares of Sprott Critical Materials ETF during the 4th quarter worth $34,000. Federation des caisses Desjardins du Quebec bought a new stake in shares of Sprott Critical Materials ETF during the 4th quarter worth $38,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Sprott Critical Materials ETF during the 4th quarter worth $40,000.

About Sprott Critical Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap. SETM was launched on Feb 1, 2023 and is managed by Sprott.