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

Sprott Nickel Miners ETF (NASDAQ:NIKL) was the target of a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 88,307 shares, a decrease of 79.1% from the January 29th total of 423,519 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 419,387 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 419,387 shares, the short-interest ratio is presently 0.2 days. Approximately 2.2% of the company’s shares are sold short.

Institutional Trading of Sprott Nickel Miners ETF

A number of institutional investors have recently added to or reduced their stakes in NIKL. Bank of Montreal Can grew its position in shares of Sprott Nickel Miners ETF by 2.5% in the 4th quarter. Bank of Montreal Can now owns 59,326 shares of the company’s stock worth $933,000 after acquiring an additional 1,458 shares in the last quarter. Royal Bank of Canada acquired a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter worth $27,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter worth $79,000. Moors & Cabot Inc. bought a new position in shares of Sprott Nickel Miners ETF in the 4th quarter worth about $168,000. Finally, Sprott Inc. bought a new position in Sprott Nickel Miners ETF in the fourth quarter worth about $268,000.

Sprott Nickel Miners ETF Stock Performance

Shares of NIKL opened at $20.12 on Friday. Sprott Nickel Miners ETF has a fifty-two week low of $7.25 and a fifty-two week high of $21.85. The company has a market capitalization of $82.09 million, a PE ratio of 18.88 and a beta of 0.78. The stock has a fifty day moving average of $18.17 and a two-hundred day moving average of $15.40.

Sprott Nickel Miners ETF Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, December 22nd. Investors of record on Thursday, December 18th were given a dividend of $0.3975 per share. The ex-dividend date was Thursday, December 18th. This represents a yield of 286.0%.

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.