Sprott Lithium Miners ETF (NASDAQ:LITP) Shares Shorted: Short Interest Down 38.9% in September

Sprott Lithium Miners ETF (NASDAQ:LITP) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 73,075 shares, a decline of 38.9% from the August 31st total of 119,625 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 48,800 shares, the short-interest ratio is presently 1.5 days.

Sprott Lithium Miners ETF Trading Down 3.3%

NASDAQ:LITP traded down $0.30 during trading hours on Thursday, hitting $8.90. The company’s stock had a trading volume of 53,886 shares, compared to its average volume of 103,650. Sprott Lithium Miners ETF has a 52-week low of $8.77 and a 52-week high of $18.56. The stock has a market capitalization of $32.15 million, a P/E ratio of 16.45 and a beta of 1.40. The stock has a fifty day moving average of $10.83 and a 200-day moving average of $12.96.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC raised its stake in Sprott Lithium Miners ETF by 19.6% during the 2nd quarter. Citadel Advisors LLC now owns 38,190 shares of the company’s stock worth $477,000 after acquiring an additional 6,261 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Sprott Lithium Miners ETF during the first quarter worth about $221,000. Finally, Sankala Group LLC purchased a new stake in shares of Sprott Lithium Miners ETF in the 4th quarter valued at about $56,000.

Sprott Lithium Miners ETF Company Profile

The Sprott Lithium Miners ETF (LITP) is an exchange-traded fund that is based on the Nasdaq Sprott Lithium Miners index. The fund aims to support the worldwide clean energy transition by tracking an index of global companies in the lithium industry. Securities are selected based on revenue and weighted by market-cap. LITP was launched on Feb 1, 2023 and is managed by Sprott.