Short Interest in Sprott Critical Materials ETF (NASDAQ:SETM) Decreases By 56.2%

Sprott Critical Materials ETF (NASDAQ:SETM) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 8,800 shares, a drop of 56.2% from the May 15th total of 20,100 shares. Based on an average trading volume of 24,500 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Sprott Critical Materials ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SETM. Jane Street Group LLC grew its holdings in shares of Sprott Critical Materials ETF by 85.8% in the fourth quarter. Jane Street Group LLC now owns 102,305 shares of the company’s stock valued at $1,542,000 after purchasing an additional 47,243 shares during the period. Royal Bank of Canada raised its position in shares of Sprott Critical Materials ETF by 3.7% during the 1st quarter. Royal Bank of Canada now owns 30,984 shares of the company’s stock valued at $437,000 after buying an additional 1,116 shares during the period. Lane Generational LLC acquired a new position in Sprott Critical Materials ETF in the first quarter valued at approximately $262,000. Finally, Paul R. Ried Financial Group LLC grew its position in Sprott Critical Materials ETF by 15.2% in the first quarter. Paul R. Ried Financial Group LLC now owns 1,189,220 shares of the company’s stock worth $16,804,000 after acquiring an additional 157,120 shares during the period.

Sprott Critical Materials ETF Stock Performance

Shares of SETM traded up $0.61 during trading hours on Monday, hitting $17.13. 34,260 shares of the stock were exchanged, compared to its average volume of 18,435. The stock’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $15.19. The company has a market cap of $43.00 million, a price-to-earnings ratio of 25.12 and a beta of 1.81. Sprott Critical Materials ETF has a 12-month low of $11.48 and a 12-month high of $19.29.

About Sprott Critical Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap.