Sprott Nickel Miners ETF (NASDAQ:NIKL) Short Interest Down 79.7% in March

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 12,300 shares, a drop of 79.7% from the February 28th total of 60,600 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 23,000 shares, the days-to-cover ratio is presently 0.5 days.

Sprott Nickel Miners ETF Trading Up 0.9 %

NASDAQ NIKL traded up $0.09 during trading hours on Thursday, hitting $9.29. The company’s stock had a trading volume of 731 shares, compared to its average volume of 26,035. The company’s 50-day simple moving average is $9.95 and its two-hundred day simple moving average is $11.35. Sprott Nickel Miners ETF has a 52 week low of $9.00 and a 52 week high of $16.20. The company has a market capitalization of $7.43 million, a PE ratio of 19.45 and a beta of 0.34.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

An institutional investor recently bought a new position in Sprott Nickel Miners ETF stock. Sonoma Private Wealth LLC bought a new stake in Sprott Nickel Miners ETF (NASDAQ:NIKL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,113 shares of the company’s stock, valued at approximately $310,000. Sonoma Private Wealth LLC owned about 3.64% of Sprott Nickel Miners ETF as of its most recent SEC filing.

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.