Sprott Lithium Miners ETF (NASDAQ:LITP) Stock Short Interest Declines 37.0%

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 46,008 shares, a decrease of 37.0% from the September 15th total of 73,075 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 42,311 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

A number of hedge funds have recently bought and sold shares of LITP. Bank of New York Mellon Corp acquired a new stake in Sprott Lithium Miners ETF in the 1st quarter worth about $221,000. Citadel Advisors LLC grew its position in shares of Sprott Lithium Miners ETF by 19.6% during the 2nd quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock worth $477,000 after purchasing an additional 6,261 shares in the last quarter. Finally, Sankala Group LLC acquired a new position in shares of Sprott Lithium Miners ETF during the 4th quarter worth approximately $56,000.

Sprott Lithium Miners ETF Stock Performance

LITP opened at $7.67 on Friday. Sprott Lithium Miners ETF has a fifty-two week low of $7.50 and a fifty-two week high of $18.56. The company has a market capitalization of $27.69 million, a P/E ratio of 16.45 and a beta of 1.48. The stock has a fifty day moving average of $10.45 and a 200-day moving average of $12.67.

Sprott Lithium Miners ETF Company Profile

The Sprott Lithium Miners ETF (LITP) is an exchange-traded fund that is based on the Nasdaq Sprott Lithium Miners index. The fund aims to support the worldwide clean energy transition by tracking an index of global companies in the lithium industry. Securities are selected based on revenue and weighted by market-cap. LITP was launched on Feb 1, 2023 and is managed by Sprott.