Sprott Lithium Miners ETF (NASDAQ:LITP) Shares Shorted: Short Interest Down 41.0% in October

Sprott Lithium Miners ETF (NASDAQ:LITP) saw a significant decline in short interest in October. As of October 15th, there was short interest totaling 27,123 shares, a decline of 41.0% from the September 30th total of 46,008 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,622 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Sprott Lithium Miners ETF

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Sprott Lithium Miners ETF in the first quarter valued at $221,000. Arvest Investments Inc. increased its position in Sprott Lithium Miners ETF by 5.5% in the third quarter. Arvest Investments Inc. now owns 271,203 shares of the company’s stock worth $2,498,000 after purchasing an additional 14,055 shares during the last quarter. Citadel Advisors LLC increased its position in Sprott Lithium Miners ETF by 19.6% in the second quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock worth $477,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Latitude Advisors LLC purchased a new stake in Sprott Lithium Miners ETF during the third quarter valued at $36,000.

Sprott Lithium Miners ETF Stock Down 1.3%

Sprott Lithium Miners ETF stock traded down $0.09 during midday trading on Tuesday, reaching $6.91. 5,323 shares of the stock traded hands, compared to its average volume of 95,329. The stock has a market cap of $24.95 million, a P/E ratio of 16.45 and a beta of 1.48. The stock’s fifty day moving average is $9.47 and its 200-day moving average is $12.51. Sprott Lithium Miners ETF has a 12 month low of $6.85 and a 12 month high of $18.56.

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.