Sprott Lithium Miners ETF (NASDAQ:LITP) Shares Up 3.5% – Here’s Why

Sprott Lithium Miners ETF (NASDAQ:LITP)’s stock price shot up 3.5% during mid-day trading on Tuesday . The company traded as high as $12.59 and last traded at $12.50. 18,825 shares were traded during trading, a decline of 86% from the average session volume of 136,953 shares. The stock had previously closed at $12.08.

Sprott Lithium Miners ETF Trading Up 3.5%

The firm has a market capitalization of $48 million, a PE ratio of 16.45 and a beta of 1.20. The firm’s fifty day moving average price is $15.38 and its 200 day moving average price is $14.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LITP. Sprott Inc. grew its stake in Sprott Lithium Miners ETF by 16.3% in the fourth quarter. Sprott Inc. now owns 44,740 shares of the company’s stock valued at $539,000 after purchasing an additional 6,275 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Sprott Lithium Miners ETF during the 3rd quarter worth about $160,000. Bank of New York Mellon Corp purchased a new stake in shares of Sprott Lithium Miners ETF during the 1st quarter worth about $221,000. Jane Street Group LLC acquired a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter valued at about $138,000. Finally, Sankala Group LLC acquired a new stake in shares of Sprott Lithium Miners ETF during the 4th quarter valued at about $56,000.

Sprott Lithium Miners ETF Company Profile

The Sprott Lithium Miners ETF (LITP) is an exchange-traded fund that is based on the Nasdaq Sprott Lithium Miners index. The fund aims to support the worldwide clean energy transition by tracking an index of global companies in the lithium industry. Securities are selected based on revenue and weighted by market-cap. LITP was launched on Feb 1, 2023 and is managed by Sprott.