Sprott Lithium Miners ETF (NASDAQ:LITP) Stock Short Interest Declines 37.0%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 46,008 shares, a decrease of 37.0% from the September 15th total of 73,075 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,311 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Sprott Lithium Miners ETF

A number of institutional investors have recently modified their holdings of LITP. Sankala Group LLC acquired a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter worth $56,000. Bank of New York Mellon Corp bought a new position in shares of Sprott Lithium Miners ETF in the first quarter worth $221,000. Finally, Citadel Advisors LLC increased its position in shares of 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 period.

Sprott Lithium Miners ETF Price Performance

Shares of NASDAQ:LITP opened at $7.67 on Friday. The business’s 50 day simple moving average is $10.45 and its 200 day simple moving average is $12.67. Sprott Lithium Miners ETF has a 1 year low of $7.50 and a 1 year high of $18.56. The company has a market capitalization of $27.69 million, a P/E ratio of 16.45 and a beta of 1.48.

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.