Sprott Nickel Miners ETF (NASDAQ:NIKL – Get Free Report) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 145,197 shares, a decrease of 42.1% from the April 15th total of 250,632 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 102,435 shares, the days-to-cover ratio is currently 1.4 days.
Sprott Nickel Miners ETF Price Performance
Shares of NASDAQ:NIKL traded down $0.64 during trading on Monday, hitting $15.42. 262,636 shares of the company’s stock were exchanged, compared to its average volume of 315,835. Sprott Nickel Miners ETF has a 52-week low of $10.08 and a 52-week high of $21.85. The business’s 50-day simple moving average is $16.66 and its 200 day simple moving average is $16.50. The company has a market cap of $68.46 million, a price-to-earnings ratio of 18.88 and a beta of 0.89.
Institutional Trading of Sprott Nickel Miners ETF
Several institutional investors have recently made changes to their positions in NIKL. Militia Capital Management LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the first quarter worth about $3,535,000. Extract Advisors LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the first quarter worth about $2,802,000. Nwam LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter worth about $2,413,000. Fortis Group Advisors LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter worth about $1,746,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Sprott Nickel Miners ETF during the first quarter worth about $1,594,000.
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.
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