Sprott Lithium Miners ETF (NASDAQ:LITP) Sees Significant Drop in Short Interest

Sprott Lithium Miners ETF (NASDAQ:LITP) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 74,489 shares, a decline of 55.4% from the January 29th total of 167,028 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily volume of 285,969 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 285,969 shares, the short-interest ratio is currently 0.3 days. Approximately 1.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Hedge funds have recently bought and sold shares of the company. Sprott Inc. boosted its position in Sprott Lithium Miners ETF by 16.3% during the fourth quarter. Sprott Inc. now owns 44,740 shares of the company’s stock worth $539,000 after purchasing an additional 6,275 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Sprott Lithium Miners ETF in the 3rd quarter worth about $160,000. Finally, Jane Street Group LLC purchased a new stake in shares of Sprott Lithium Miners ETF in the 4th quarter worth about $138,000.

Sprott Lithium Miners ETF Trading Down 3.1%

Shares of LITP traded down $0.45 during trading hours on Friday, reaching $13.96. The company had a trading volume of 59,188 shares, compared to its average volume of 251,915. The company has a market capitalization of $62.26 million, a price-to-earnings ratio of 16.45 and a beta of 1.04. Sprott Lithium Miners ETF has a 12-month low of $4.63 and a 12-month high of $16.51. The firm has a 50 day simple moving average of $13.62 and a 200-day simple moving average of $11.08.

Sprott Lithium Miners ETF Dividend Announcement

The business also recently declared an annual dividend, which was paid on Monday, December 22nd. Stockholders of record on Thursday, December 18th were given a dividend of $0.8927 per share. This represents a dividend yield of 780.0%. The ex-dividend date was Thursday, December 18th.

About Sprott Lithium Miners ETF

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.