Sprott Lithium Miners ETF (NASDAQ:LITP) Stock Short Interest Drops 41.0%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 27,123 shares, a decline of 41.0% from the September 30th total of 46,008 shares. Based on an average daily volume of 29,622 shares, the short-interest ratio is presently 0.9 days. Approximately 0.8% of the company’s shares are sold short.

Sprott Lithium Miners ETF Price Performance

LITP traded down $0.49 on Friday, hitting $7.01. The company had a trading volume of 46,174 shares, compared to its average volume of 96,113. The company’s fifty day moving average price is $9.58 and its 200 day moving average price is $12.55. The stock has a market cap of $25.31 million, a price-to-earnings ratio of 16.45 and a beta of 1.48. Sprott Lithium Miners ETF has a 1-year low of $6.85 and a 1-year high of $18.56.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Large investors have recently made changes to their positions in the company. Latitude Advisors LLC bought a new position in Sprott Lithium Miners ETF during the 3rd quarter worth about $36,000. Arvest Investments Inc. boosted its stake in shares of Sprott Lithium Miners ETF by 5.5% during the 3rd quarter. Arvest Investments Inc. now owns 271,203 shares of the company’s stock worth $2,498,000 after acquiring an additional 14,055 shares during the period. Citadel Advisors LLC increased its holdings in shares of Sprott Lithium Miners ETF by 19.6% in the second quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock valued at $477,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Sprott Lithium Miners ETF in the 1st quarter valued at about $221,000.

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.