Sprott Lithium Miners ETF (NASDAQ:LITP) Sees Significant Decline in Short Interest

Sprott Lithium Miners ETF (NASDAQ:LITP) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 46,008 shares, a decrease of 37.0% from the September 15th total of 73,075 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily volume of 42,311 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Sankala Group LLC purchased a new stake in Sprott Lithium Miners ETF in the fourth quarter valued at $56,000. Citadel Advisors LLC grew its holdings in shares of Sprott Lithium Miners ETF by 19.6% during the second quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock worth $477,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sprott Lithium Miners ETF during the first quarter worth about $221,000.

Sprott Lithium Miners ETF Trading Down 2.1%

LITP stock opened at $7.51 on Friday. The stock has a market cap of $27.11 million, a P/E ratio of 16.45 and a beta of 1.48. Sprott Lithium Miners ETF has a twelve month low of $7.50 and a twelve month high of $18.56. The company’s 50 day moving average is $10.38 and its two-hundred day moving average is $12.63.

Sprott Lithium Miners ETF Company Profile

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.