Sprott Critical Materials ETF (NASDAQ:SETM) Sees Significant Decline in Short Interest

Sprott Critical Materials ETF (NASDAQ:SETM) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 16,256 shares, a drop of 84.2% from the February 26th total of 102,839 shares. Based on an average daily trading volume, of 291,169 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 291,169 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Sprott Critical Materials ETF

A number of hedge funds have recently modified their holdings of SETM. Fortis Advisors LLC increased its position in Sprott Critical Materials ETF by 0.7% in the fourth quarter. Fortis Advisors LLC now owns 143,405 shares of the company’s stock worth $4,152,000 after buying an additional 1,016 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Sprott Critical Materials ETF by 3.7% during the 1st quarter. Royal Bank of Canada now owns 30,984 shares of the company’s stock valued at $437,000 after buying an additional 1,116 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in shares of Sprott Critical Materials ETF during the 4th quarter valued at $34,000. Federation des caisses Desjardins du Quebec bought a new position in shares of Sprott Critical Materials ETF during the 4th quarter worth $38,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Sprott Critical Materials ETF during the 4th quarter worth $40,000.

Sprott Critical Materials ETF Stock Performance

Shares of SETM stock opened at $31.57 on Wednesday. The firm has a market cap of $440.72 million, a price-to-earnings ratio of 29.93 and a beta of 0.90. Sprott Critical Materials ETF has a 52 week low of $11.48 and a 52 week high of $40.55. The firm’s 50-day simple moving average is $35.48 and its two-hundred day simple moving average is $30.02.

About Sprott Critical Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap. SETM was launched on Feb 1, 2023 and is managed by Sprott.