Sprott Lithium Miners ETF (NASDAQ:LITP – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 119,625 shares, a growth of 157.4% from the August 15th total of 46,476 shares. Based on an average daily volume of 50,908 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.3% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in LITP. Citadel Advisors LLC increased its stake in 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 acquiring an additional 6,261 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sprott Lithium Miners ETF in the 1st quarter worth approximately $221,000. Finally, Sankala Group LLC bought a new position in shares of Sprott Lithium Miners ETF during the 4th quarter valued at approximately $56,000.
Sprott Lithium Miners ETF Stock Performance
Shares of NASDAQ:LITP traded down $0.20 on Tuesday, reaching $10.12. The company’s stock had a trading volume of 2,767 shares, compared to its average volume of 107,462. The company has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $13.25. Sprott Lithium Miners ETF has a 52-week low of $7.78 and a 52-week high of $18.56. The company has a market cap of $36.53 million, a P/E ratio of 16.45 and a beta of 1.40.
About Sprott Lithium Miners ETF
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.
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