Short Interest in Sprott Nickel Miners ETF (NASDAQ:NIKL) Expands By 266.7%

Sprott Nickel Miners ETF (NASDAQ:NIKL) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 423,519 shares, an increase of 266.7% from the January 15th total of 115,491 shares. Based on an average daily trading volume, of 695,280 shares, the days-to-cover ratio is presently 0.6 days. Approximately 10.4% of the company’s shares are short sold. Approximately 10.4% of the company’s shares are short sold. Based on an average daily trading volume, of 695,280 shares, the days-to-cover ratio is presently 0.6 days.

Sprott Nickel Miners ETF Trading Down 5.2%

NIKL stock traded down $0.99 during midday trading on Thursday, hitting $18.13. The stock had a trading volume of 407,148 shares, compared to its average volume of 562,898. The firm has a market cap of $73.97 million, a P/E ratio of 18.88 and a beta of 0.78. The business has a fifty day moving average price of $16.92 and a two-hundred day moving average price of $14.83. Sprott Nickel Miners ETF has a 1-year low of $7.25 and a 1-year high of $21.85.

Sprott Nickel Miners ETF Announces Dividend

The business also recently declared an annual dividend, which was paid on Monday, December 22nd. Shareholders of record on Thursday, December 18th were paid a $0.3975 dividend. This represents a yield of 286.0%. The ex-dividend date of this dividend was Thursday, December 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIKL. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Sprott Nickel Miners ETF during the fourth quarter valued at approximately $79,000. Moors & Cabot Inc. bought a new position in shares of Sprott Nickel Miners ETF in the 4th quarter worth $168,000. Sprott Inc. acquired a new stake in Sprott Nickel Miners ETF in the 4th quarter valued at $268,000. Vanguard Capital Wealth Advisors bought a new stake in Sprott Nickel Miners ETF during the 4th quarter valued at $322,000. Finally, CENTRAL TRUST Co bought a new stake in Sprott Nickel Miners ETF during the 4th quarter valued at $353,000.

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.