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

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sprott Nickel Miners ETF stock. Sonoma Private Wealth LLC bought a new position in Sprott Nickel Miners ETF (NASDAQ:NIKL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,113 shares of the company’s stock, valued at approximately $310,000. Sonoma Private Wealth LLC owned 3.64% of Sprott Nickel Miners ETF as of its most recent filing with the Securities and Exchange Commission.

Sprott Nickel Miners ETF Price Performance

Shares of Sprott Nickel Miners ETF stock traded up $0.39 during trading hours on Monday, hitting $9.81. The company had a trading volume of 21,360 shares, compared to its average volume of 25,771. The company’s 50-day moving average is $10.10 and its two-hundred day moving average is $11.47. Sprott Nickel Miners ETF has a twelve month low of $9.06 and a twelve month high of $16.20. The company has a market cap of $7.85 million, a P/E ratio of 19.45 and a beta of 0.34.

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.