Short Interest in Sprott Lithium Miners ETF (NASDAQ:LITP) Decreases By 42.4%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 33,144 shares, a decline of 42.4% from the April 15th total of 57,543 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 92,522 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Sprott Lithium Miners ETF

Several institutional investors have recently added to or reduced their stakes in LITP. Sprott Inc. lifted its stake in Sprott Lithium Miners ETF by 189.8% during the third quarter. Sprott Inc. now owns 38,465 shares of the company’s stock worth $347,000 after purchasing an additional 25,190 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Sprott Lithium Miners ETF during the third quarter worth approximately $160,000. Bank of New York Mellon Corp purchased a new stake in Sprott Lithium Miners ETF during the first quarter worth approximately $221,000. Jane Street Group LLC purchased a new stake in Sprott Lithium Miners ETF during the fourth quarter worth approximately $138,000. Finally, Sankala Group LLC purchased a new stake in Sprott Lithium Miners ETF during the fourth quarter worth approximately $56,000.

Sprott Lithium Miners ETF Stock Down 2.0%

LITP stock opened at $15.38 on Tuesday. The business has a 50 day moving average price of $14.62 and a 200 day moving average price of $13.34. The stock has a market cap of $59.06 million, a price-to-earnings ratio of 16.45 and a beta of 1.28. Sprott Lithium Miners ETF has a fifty-two week low of $5.06 and a fifty-two week high of $18.56.

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.