Sprott Nickel Miners ETF (NASDAQ:NIKL) Short Interest Down 42.4% in March

Sprott Nickel Miners ETF (NASDAQ:NIKL) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 92,951 shares, a decrease of 42.4% from the February 26th total of 161,356 shares. Based on an average daily trading volume, of 244,537 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.3% of the company’s shares are sold short.

Sprott Nickel Miners ETF Stock Up 2.1%

Shares of NIKL stock traded up $0.31 during trading hours on Friday, reaching $15.43. 85,067 shares of the stock traded hands, compared to its average volume of 414,495. The firm has a market capitalization of $62.95 million, a PE ratio of 18.88 and a beta of 0.78. Sprott Nickel Miners ETF has a 1-year low of $7.25 and a 1-year high of $21.85. The business has a fifty day moving average price of $17.99 and a 200 day moving average price of $15.91.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Sprott Nickel Miners ETF by 2.5% during the 4th quarter. Bank of Montreal Can now owns 59,326 shares of the company’s stock valued at $933,000 after acquiring an additional 1,458 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Sprott Nickel Miners ETF in the second quarter worth approximately $725,000. Sprott Inc. purchased a new stake in shares of Sprott Nickel Miners ETF in the fourth quarter worth approximately $268,000. Royal Bank of Canada acquired a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter worth approximately $27,000. Finally, Hancock Prospecting Pty Ltd acquired a new position in Sprott Nickel Miners ETF in the 4th quarter valued at approximately $1,101,000.

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.