iShares Lithium Miners and Producers ETF (NASDAQ:ILIT – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 6,398 shares, a drop of 92.7% from the April 30th total of 88,217 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 56,929 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC acquired a new stake in iShares Lithium Miners and Producers ETF in the 4th quarter valued at about $29,000. Group One Trading LLC acquired a new stake in iShares Lithium Miners and Producers ETF in the 4th quarter valued at about $77,000. Finally, Farther Finance Advisors LLC lifted its stake in iShares Lithium Miners and Producers ETF by 252.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the last quarter.
iShares Lithium Miners and Producers ETF Price Performance
ILIT stock traded up $0.22 during trading hours on Thursday, reaching $20.50. 3,986 shares of the stock were exchanged, compared to its average volume of 41,393. The firm’s 50-day moving average is $19.43 and its 200-day moving average is $17.47. The company has a market cap of $22.55 million, a price-to-earnings ratio of 1.98 and a beta of 1.44. iShares Lithium Miners and Producers ETF has a 12 month low of $7.01 and a 12 month high of $23.80.
About iShares Lithium Miners and Producers ETF
The iShares Lithium Miners and Producers ETF (ILIT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is passively managed, providing exposure to the lithium industry by investing in stocks of lithium miners and compound manufacturers from all around the world. ILIT was launched on Jun 21, 2023 and is managed by BlackRock.
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