Sprott Lithium Miners ETF (NASDAQ:LITP) Sees Large Increase in Short Interest

Sprott Lithium Miners ETF (NASDAQ:LITP) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 54,562 shares, a growth of 78.7% from the June 15th total of 30,528 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 43,888 shares, the days-to-cover ratio is presently 1.2 days.

Sprott Lithium Miners ETF Price Performance

NASDAQ LITP opened at $10.59 on Friday. The business has a fifty day moving average price of $14.04 and a two-hundred day moving average price of $14.01. The stock has a market capitalization of $38.23 million, a PE ratio of 16.45 and a beta of 1.31. Sprott Lithium Miners ETF has a fifty-two week low of $6.50 and a fifty-two week high of $18.56.

Institutional Trading of Sprott Lithium Miners ETF

Several institutional investors and hedge funds have recently modified their holdings of LITP. Susquehanna International Group LLP acquired a new stake in Sprott Lithium Miners ETF in the third quarter valued at about $160,000. Sprott Inc. raised its stake 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 acquiring an additional 6,275 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Sprott Lithium Miners ETF in the fourth quarter worth about $138,000. Sankala Group LLC bought a new position in shares of Sprott Lithium Miners ETF in the fourth quarter worth about $56,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sprott Lithium Miners ETF in the 1st quarter valued at approximately $221,000.

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.