Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Short Interest Down 45.5% in August

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 379,627 shares, a drop of 45.5% from the July 30th total of 696,192 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 174,542 shares, the short-interest ratio is currently 2.2 days.

Global X Lithium & Battery Tech ETF Trading Down 1.8%

LIT traded down $1.41 during midday trading on Tuesday, hitting $74.96. 122,099 shares of the company traded hands, compared to its average volume of 379,696. Global X Lithium & Battery Tech ETF has a 52-week low of $46.27 and a 52-week high of $91.98. The business has a 50 day simple moving average of $73.36 and a two-hundred day simple moving average of $76.90. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 21.25 and a beta of 1.02.

Institutional Investors Weigh In On Global X Lithium & Battery Tech ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIT. Bank of Montreal Can raised its holdings in Global X Lithium & Battery Tech ETF by 2,888.0% in the 4th quarter. Bank of Montreal Can now owns 265,692 shares of the company’s stock valued at $17,233,000 after buying an additional 256,800 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Global X Lithium & Battery Tech ETF by 269.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 146,158 shares of the company’s stock valued at $8,291,000 after acquiring an additional 106,618 shares during the period. Bank of America Corp DE lifted its holdings in shares of Global X Lithium & Battery Tech ETF by 36.8% in the 1st quarter. Bank of America Corp DE now owns 340,424 shares of the company’s stock worth $25,310,000 after acquiring an additional 91,542 shares during the last quarter. Chicago Wealth Management Inc. acquired a new position in shares of Global X Lithium & Battery Tech ETF in the 4th quarter worth approximately $5,041,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Global X Lithium & Battery Tech ETF by 42.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 216,095 shares of the company’s stock worth $12,285,000 after purchasing an additional 64,273 shares during the period.

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.