Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Large Increase in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 12,408 shares, an increase of 223.5% from the September 30th total of 3,835 shares. Based on an average daily volume of 32,344 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of Sprott Nickel Miners ETF

A number of institutional investors have recently added to or reduced their stakes in NIKL. Latitude Advisors LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the 3rd quarter worth approximately $63,000. Nwam LLC grew its holdings in shares of Sprott Nickel Miners ETF by 4.8% in the 2nd quarter. Nwam LLC now owns 243,505 shares of the company’s stock worth $3,091,000 after acquiring an additional 11,250 shares during the period. Militia Capital Management LLC acquired a new stake in shares of Sprott Nickel Miners ETF in the 1st quarter worth approximately $3,535,000. Extract Advisors LLC acquired a new stake in shares of Sprott Nickel Miners ETF in the 1st quarter worth approximately $2,802,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Sprott Nickel Miners ETF in the 1st quarter worth approximately $1,594,000.

Sprott Nickel Miners ETF Stock Up 1.0%

Shares of NIKL opened at $11.14 on Thursday. The company has a 50-day simple moving average of $13.55 and a 200-day simple moving average of $15.39. The company has a market capitalization of $41.33 million, a PE ratio of 18.88 and a beta of 0.91. Sprott Nickel Miners ETF has a 52-week low of $10.94 and a 52-week high of $21.85.

Sprott Nickel Miners ETF Company Profile

The Sprott Nickel Miners ETF (NIKL) is an exchange-traded fund that is based on the Nasdaq Sprott Nickel Miners index. The fund tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap. NIKL was launched on Mar 21, 2023 and is issued by Sprott.