Sprott Nickel Miners ETF (NASDAQ:NIKL) Stock Price Up 2.2% – Time to Buy?

Sprott Nickel Miners ETF (NASDAQ:NIKL) shares rose 2.2% on Friday . The company traded as high as $18.66 and last traded at $18.24. Approximately 200,609 shares traded hands during trading, a decline of 44% from the average daily volume of 359,641 shares. The stock had previously closed at $17.85.

Sprott Nickel Miners ETF Stock Up 2.2%

The firm has a market capitalization of $79.16 million, a price-to-earnings ratio of 18.88 and a beta of 0.88. The business’s 50-day simple moving average is $17.26 and its two-hundred day simple moving average is $16.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in shares of Sprott Nickel Miners ETF by 2.5% in the fourth quarter. Bank of Montreal Can now owns 59,326 shares of the company’s stock valued at $933,000 after purchasing an additional 1,458 shares during the period. Jane Street Group LLC purchased a new position in shares of Sprott Nickel Miners ETF in the second quarter valued at approximately $725,000. Moors & Cabot Inc. purchased a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at approximately $168,000. AdvisorNet Financial Inc boosted its stake in shares of Sprott Nickel Miners ETF by 921.7% in the first quarter. AdvisorNet Financial Inc now owns 3,065 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares during the period. Finally, Royal Bank of Canada purchased a new position in shares of Sprott Nickel Miners ETF in the fourth quarter valued at approximately $27,000.

Sprott Nickel Miners ETF Company Profile

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.