Sprott Nickel Miners ETF (NASDAQ:NIKL – Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 8,862 shares, a decrease of 72.3% from the August 15th total of 32,039 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 46,908 shares, the days-to-cover ratio is presently 0.2 days.
Sprott Nickel Miners ETF Stock Performance
Sprott Nickel Miners ETF stock traded down $0.01 during midday trading on Friday, reaching $14.79. 19,187 shares of the company’s stock were exchanged, compared to its average volume of 208,992. Sprott Nickel Miners ETF has a 52 week low of $12.23 and a 52 week high of $21.85. The firm has a market cap of $59.31 million, a price-to-earnings ratio of 18.88 and a beta of 0.88. The stock’s 50-day simple moving average is $13.89 and its 200 day simple moving average is $15.25.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new stake in Sprott Nickel Miners ETF in the 4th quarter valued at $27,000. AdvisorNet Financial Inc increased its holdings in shares of Sprott Nickel Miners ETF by 921.7% in the first quarter. AdvisorNet Financial Inc now owns 3,065 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at about $79,000. Moors & Cabot Inc. bought a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at about $168,000. Finally, Sprott Inc. bought a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at about $268,000.
About Sprott Nickel Miners ETF
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.
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