Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Large Increase in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 423,519 shares, a growth of 266.7% from the January 15th total of 115,491 shares. Approximately 10.4% of the company’s shares are sold short. Based on an average daily volume of 695,280 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 695,280 shares, the short-interest ratio is currently 0.6 days. Approximately 10.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

A number of large investors have recently bought and sold shares of NIKL. Bank of Montreal Can bought a new stake in Sprott Nickel Miners ETF in the second quarter valued at approximately $681,000. Jane Street Group LLC purchased a new position in shares of Sprott Nickel Miners ETF in the second quarter worth $725,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Sprott Nickel Miners ETF in the fourth quarter worth $322,000. CENTRAL TRUST Co bought a new stake in Sprott Nickel Miners ETF during the 4th quarter valued at $353,000. Finally, Nwam LLC bought a new stake in Sprott Nickel Miners ETF during the 4th quarter valued at $2,413,000.

Sprott Nickel Miners ETF Trading Up 7.5%

Shares of NASDAQ:NIKL traded up $1.33 on Wednesday, reaching $19.10. 570,377 shares of the company traded hands, compared to its average volume of 567,257. The stock has a market capitalization of $77.93 million, a P/E ratio of 18.88 and a beta of 0.78. The business’s 50-day simple moving average is $16.82 and its 200 day simple moving average is $14.80. Sprott Nickel Miners ETF has a 52 week low of $7.25 and a 52 week high of $21.85.

Sprott Nickel Miners ETF Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, December 22nd. Investors of record on Thursday, December 18th were issued a dividend of $0.3975 per share. The ex-dividend date was Thursday, December 18th. This represents a yield of 286.0%.

About Sprott Nickel Miners ETF

The Sprott Nickel Miners ETF (NIKL) is an exchange-traded fund that is based on the Nasdaq Sprott Nickel Miners index. The fund tracks an index of nickel related companies around the globe. Securities are selected based on revenue and weighted by market-cap. NIKL was launched on Mar 21, 2023 and is issued by Sprott.