Sprott Nickel Miners ETF (NASDAQ:NIKL) Stock Short Interest Drops 45.5%

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 3,835 shares, a decrease of 45.5% from the September 15th total of 7,033 shares. Based on an average daily trading volume, of 35,267 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Sprott Nickel Miners ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Militia Capital Management LLC acquired a new position in shares of Sprott Nickel Miners ETF during the first quarter valued at $3,535,000. Extract Advisors LLC acquired a new stake in Sprott Nickel Miners ETF in the first quarter worth about $2,802,000. Cetera Investment Advisers acquired a new stake in Sprott Nickel Miners ETF in the first quarter worth about $1,594,000. Nwam LLC increased its position in Sprott Nickel Miners ETF by 51.4% in the first quarter. Nwam LLC now owns 232,255 shares of the company’s stock worth $3,718,000 after purchasing an additional 78,870 shares during the period. Finally, Hancock Prospecting Pty Ltd bought a new stake in Sprott Nickel Miners ETF during the 4th quarter worth about $1,101,000.

Sprott Nickel Miners ETF Stock Down 0.6%

NASDAQ:NIKL traded down $0.07 during trading hours on Thursday, hitting $12.11. 42,191 shares of the stock were exchanged, compared to its average volume of 187,750. The company has a market capitalization of $44.92 million, a P/E ratio of 18.88 and a beta of 0.91. The company’s 50 day moving average is $14.15 and its two-hundred day moving average is $14.66. Sprott Nickel Miners ETF has a twelve month low of $11.85 and a twelve month high of $21.85.

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.