Sprott Lithium Miners ETF (NASDAQ:LITP) Stock Short Interest Falls 41.0%

Sprott Lithium Miners ETF (NASDAQ:LITP) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 27,123 shares, a decrease of 41.0% from the September 30th total of 46,008 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 29,622 shares, the days-to-cover ratio is presently 0.9 days.

Sprott Lithium Miners ETF Stock Down 0.1%

LITP stock traded down $0.01 during mid-day trading on Monday, reaching $7.00. The company had a trading volume of 23,825 shares, compared to its average volume of 95,768. The stock has a market capitalization of $25.27 million, a P/E ratio of 16.45 and a beta of 1.48. The stock’s 50-day simple moving average is $9.58 and its two-hundred day simple moving average is $12.55. Sprott Lithium Miners ETF has a one year low of $6.85 and a one year high of $18.56.

Hedge Funds Weigh In On Sprott Lithium Miners ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Latitude Advisors LLC bought a new position in shares of Sprott Lithium Miners ETF in the third quarter valued at approximately $36,000. Arvest Investments Inc. grew its position in Sprott Lithium Miners ETF by 5.5% in the third quarter. Arvest Investments Inc. now owns 271,203 shares of the company’s stock worth $2,498,000 after buying an additional 14,055 shares during the last quarter. Citadel Advisors LLC raised its holdings in 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 buying an additional 6,261 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sprott Lithium Miners ETF in the 1st quarter valued at approximately $221,000.

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.