Sprott Nickel Miners ETF (NASDAQ:NIKL) Short Interest Update

Sprott Nickel Miners ETF (NASDAQ:NIKL) saw a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 92,951 shares, a decrease of 42.4% from the February 26th total of 161,356 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 244,537 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Sprott Nickel Miners ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIKL. Nwam LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the 4th quarter worth approximately $2,413,000. Fortis Group Advisors LLC purchased a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at $1,746,000. Hancock Prospecting Pty Ltd purchased a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at $1,101,000. Jane Street Group LLC bought a new stake in Sprott Nickel Miners ETF in the second quarter worth $725,000. Finally, Bank of Montreal Can increased its position in Sprott Nickel Miners ETF by 2.5% in the fourth quarter. Bank of Montreal Can now owns 59,326 shares of the company’s stock worth $933,000 after purchasing an additional 1,458 shares during the last quarter.

Sprott Nickel Miners ETF Stock Up 1.1%

NASDAQ:NIKL traded up $0.17 on Friday, reaching $15.29. 169,221 shares of the company’s stock traded hands, compared to its average volume of 416,032. The stock has a 50-day simple moving average of $17.92 and a 200-day simple moving average of $15.92. Sprott Nickel Miners ETF has a 12 month low of $7.25 and a 12 month high of $21.85. The firm has a market cap of $62.38 million, a PE ratio of 18.88 and a beta of 0.78.

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.