Short Interest in Sprott Nickel Miners ETF (NASDAQ:NIKL) Drops By 31.7%

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 60,600 shares, a drop of 31.7% from the February 13th total of 88,700 shares. Based on an average daily volume of 23,900 shares, the short-interest ratio is presently 2.5 days. Approximately 7.6% of the shares of the stock are sold short.

Sprott Nickel Miners ETF Stock Up 4.1 %

Shares of NASDAQ NIKL traded up $0.39 during midday trading on Monday, hitting $9.81. The company had a trading volume of 21,360 shares, compared to its average volume of 25,771. Sprott Nickel Miners ETF has a twelve month low of $9.06 and a twelve month high of $16.20. The business has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $11.47. The firm has a market capitalization of $7.85 million, a price-to-earnings ratio of 19.45 and a beta of 0.34.

Institutional Trading of 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 position in shares of Sprott Nickel Miners ETF (NASDAQ:NIKL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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.