Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Large Decline in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 40,243 shares, a drop of 82.3% from the May 31st total of 227,453 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 146,670 shares, the short-interest ratio is presently 0.3 days.

Sprott Nickel Miners ETF Trading Down 1.0%

NASDAQ:NIKL opened at $12.93 on Friday. Sprott Nickel Miners ETF has a 12-month low of $11.09 and a 12-month high of $21.85. The firm has a market cap of $57.41 million, a PE ratio of 18.88 and a beta of 0.79. The stock has a fifty day moving average price of $15.72 and a 200 day moving average price of $16.61.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Militia Capital Management LLC purchased a new stake in shares of Sprott Nickel Miners ETF during the first quarter worth approximately $3,535,000. Extract Advisors LLC purchased a new position in Sprott Nickel Miners ETF in the first quarter worth approximately $2,802,000. Nwam LLC acquired a new position in Sprott Nickel Miners ETF during the 4th quarter worth approximately $2,413,000. Fortis Group Advisors LLC acquired a new position in Sprott Nickel Miners ETF during the 4th quarter worth approximately $1,746,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Sprott Nickel Miners ETF in the 1st quarter valued at approximately $1,594,000.

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.