Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sees Significant Increase in Short Interest

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 854,280 shares, a growth of 125.0% from the August 15th total of 379,627 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily volume of 276,312 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LIT. Nalls Sherbakoff Group LLC acquired a new position in Global X Lithium & Battery Tech ETF in the fourth quarter valued at about $29,000. AlphaCore Capital LLC increased its stake in shares of Global X Lithium & Battery Tech ETF by 333.3% in the 4th quarter. AlphaCore Capital LLC now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Global X Lithium & Battery Tech ETF by 7,453.3% in the 4th quarter. Root Financial Partners LLC now owns 1,133 shares of the company’s stock valued at $73,000 after acquiring an additional 1,118 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Global X Lithium & Battery Tech ETF in the 4th quarter valued at approximately $81,000. Finally, Allworth Financial LP raised its position in shares of Global X Lithium & Battery Tech ETF by 74.2% in the 4th quarter. Allworth Financial LP now owns 1,272 shares of the company’s stock valued at $82,000 after acquiring an additional 542 shares during the period.

Global X Lithium & Battery Tech ETF Price Performance

LIT opened at $70.02 on Wednesday. The firm has a 50 day simple moving average of $72.45 and a 200 day simple moving average of $76.85. Global X Lithium & Battery Tech ETF has a fifty-two week low of $51.37 and a fifty-two week high of $91.98. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 21.25 and a beta of 1.03.

About Global X Lithium & Battery Tech ETF

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.