Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Significant Growth in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 161,356 shares, an increase of 82.7% from the February 12th total of 88,307 shares. Based on an average daily volume of 325,097 shares, the short-interest ratio is presently 0.5 days. Approximately 4.0% of the company’s stock are sold short. Approximately 4.0% of the company’s stock are sold short. Based on an average daily volume of 325,097 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On Sprott Nickel Miners ETF

A number of hedge funds have recently added to or reduced their stakes in NIKL. Bank of Montreal Can acquired a new position in shares of Sprott Nickel Miners ETF during the second quarter worth approximately $681,000. Jane Street Group LLC bought a new position in shares of Sprott Nickel Miners ETF in the 2nd quarter worth $725,000. Sprott Inc. acquired a new stake in Sprott Nickel Miners ETF in the 4th quarter valued at $268,000. Royal Bank of Canada acquired a new stake in Sprott Nickel Miners ETF in the 4th quarter valued at $27,000. Finally, Hancock Prospecting Pty Ltd bought a new stake in Sprott Nickel Miners ETF during the 4th quarter valued at $1,101,000.

Sprott Nickel Miners ETF Price Performance

NIKL stock opened at $16.89 on Friday. The stock has a market capitalization of $68.91 million, a PE ratio of 18.88 and a beta of 0.78. The company’s 50-day moving average is $18.54 and its 200-day moving average is $15.72. Sprott Nickel Miners ETF has a 1 year low of $7.25 and a 1 year high of $21.85.

Sprott Nickel Miners ETF Dividend Announcement

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

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.