iShares Lithium Miners and Producers ETF (NASDAQ:ILIT) Sees Significant Decline in Short Interest

iShares Lithium Miners and Producers ETF (NASDAQ:ILIT) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 6,398 shares, a drop of 92.7% from the April 30th total of 88,217 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 56,929 shares, the days-to-cover ratio is presently 0.1 days.

iShares Lithium Miners and Producers ETF Stock Down 0.7%

iShares Lithium Miners and Producers ETF stock traded down $0.15 during mid-day trading on Wednesday, hitting $20.28. 53,876 shares of the company’s stock were exchanged, compared to its average volume of 41,773. The firm has a market capitalization of $22.31 million, a P/E ratio of 1.98 and a beta of 1.44. iShares Lithium Miners and Producers ETF has a fifty-two week low of $7.01 and a fifty-two week high of $23.80. The company’s 50 day simple moving average is $19.36 and its 200-day simple moving average is $17.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake in iShares Lithium Miners and Producers ETF by 252.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $28,000 after acquiring an additional 1,300 shares during the period. Smartleaf Asset Management LLC acquired a new stake in iShares Lithium Miners and Producers ETF during the 4th quarter worth approximately $29,000. Finally, Group One Trading LLC acquired a new stake in iShares Lithium Miners and Producers ETF during the 4th quarter worth approximately $77,000.

About iShares Lithium Miners and Producers ETF

The iShares Lithium Miners and Producers ETF (ILIT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is passively managed, providing exposure to the lithium industry by investing in stocks of lithium miners and compound manufacturers from all around the world. ILIT was launched on Jun 21, 2023 and is managed by BlackRock.