Global X Lithium ETF (LIT) Sees Large Drop in Short Interest

Global X Lithium ETF (NYSEARCA:LIT) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 378,621 shares, a decline of 50.5% from the January 12th total of 765,661 shares. Based on an average daily trading volume, of 932,080 shares, the short-interest ratio is currently 0.4 days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Global X Lithium ETF during the third quarter worth approximately $11,929,000. Wells Fargo & Company MN boosted its position in shares of Global X Lithium ETF by 80.6% during the fourth quarter. Wells Fargo & Company MN now owns 286,337 shares of the company’s stock worth $11,099,000 after buying an additional 127,827 shares during the period. LPL Financial LLC boosted its position in shares of Global X Lithium ETF by 34.3% during the fourth quarter. LPL Financial LLC now owns 166,901 shares of the company’s stock worth $6,469,000 after buying an additional 42,606 shares during the period. Allianz Asset Management GmbH acquired a new stake in Global X Lithium ETF in the third quarter worth approximately $5,911,000. Finally, Cabot Wealth Management Inc. acquired a new stake in Global X Lithium ETF in the fourth quarter worth approximately $3,883,000.

Global X Lithium ETF (NYSEARCA LIT) opened at $36.20 on Thursday. Global X Lithium ETF has a 52-week low of $25.81 and a 52-week high of $41.21.

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Global X Lithium ETF Company Profile

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG.

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