Sprott Nickel Miners ETF (NASDAQ:NIKL) Sees Large Drop in Short Interest

Sprott Nickel Miners ETF (NASDAQ:NIKL) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 34,200 shares, a decline of 50.6% from the January 15th total of 69,200 shares. Based on an average daily volume of 19,200 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Sprott Nickel Miners ETF

A hedge fund recently bought a new stake in Sprott Nickel Miners ETF stock. Sonoma Private Wealth LLC bought a new position in shares of Sprott Nickel Miners ETF (NASDAQ:NIKL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Sprott Nickel Miners ETF Price Performance

Shares of Sprott Nickel Miners ETF stock traded up $0.37 during trading on Thursday, hitting $10.37. The company’s stock had a trading volume of 18,610 shares, compared to its average volume of 23,714. Sprott Nickel Miners ETF has a 52 week low of $9.47 and a 52 week high of $16.20. The stock has a market cap of $8.30 million, a price-to-earnings ratio of 5.13 and a beta of 0.86. The stock has a 50-day moving average price of $10.66 and a two-hundred day moving average price of $11.84.

Sprott Nickel Miners ETF Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 12th were paid a dividend of $0.3717 per share. The ex-dividend date of this dividend was Thursday, December 12th.

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.