Sprott Lithium Miners ETF (NASDAQ:LITP) Sees Large Increase in Short Interest

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 54,562 shares, an increase of 78.7% from the June 15th total of 30,528 shares. Based on an average daily trading volume, of 43,888 shares, the short-interest ratio is currently 1.2 days. Approximately 1.5% of the shares of the company are sold short.

Sprott Lithium Miners ETF Stock Performance

LITP traded down $0.07 during trading on Friday, hitting $10.59. The stock had a trading volume of 25,532 shares, compared to its average volume of 127,451. The firm has a market capitalization of $38.23 million, a P/E ratio of 16.45 and a beta of 1.31. Sprott Lithium Miners ETF has a twelve month low of $6.50 and a twelve month high of $18.56. The company’s 50-day moving average price is $14.04 and its 200 day moving average price is $14.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sankala Group LLC purchased a new position in shares of Sprott Lithium Miners ETF during the 4th quarter worth approximately $56,000. Jane Street Group LLC acquired a new position in Sprott Lithium Miners ETF during the fourth quarter worth $138,000. Susquehanna International Group LLP purchased a new position in Sprott Lithium Miners ETF in the third quarter worth $160,000. Bank of New York Mellon Corp purchased a new position in Sprott Lithium Miners ETF in the first quarter worth $221,000. Finally, Sprott Inc. raised its position in Sprott Lithium Miners ETF by 16.3% in the fourth quarter. Sprott Inc. now owns 44,740 shares of the company’s stock worth $539,000 after acquiring an additional 6,275 shares in the last quarter.

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.