Sprott Energy Transition Materials ETF (NASDAQ:SETM) Sees Large Growth in Short Interest

Sprott Energy Transition Materials ETF (NASDAQ:SETM) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 23,700 shares, a growth of 117.4% from the May 31st total of 10,900 shares. Based on an average daily volume of 10,400 shares, the days-to-cover ratio is currently 2.3 days.

Sprott Energy Transition Materials ETF Stock Down 1.0 %

Shares of SETM traded down $0.18 during mid-day trading on Friday, hitting $17.15. 21,023 shares of the company’s stock were exchanged, compared to its average volume of 8,018. Sprott Energy Transition Materials ETF has a 52 week low of $15.29 and a 52 week high of $20.95. The stock’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $17.52. The firm has a market cap of $12.69 million, a price-to-earnings ratio of 13.38 and a beta of 1.81.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sprott Energy Transition Materials ETF stock. National Bank of Canada FI increased its position in shares of Sprott Energy Transition Materials ETF (NASDAQ:SETM) by 234.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,648 shares of the company’s stock after acquiring an additional 2,556 shares during the period. National Bank of Canada FI owned about 0.52% of Sprott Energy Transition Materials ETF worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

About Sprott Energy Transition Materials ETF

The Sprott Energy Transition Materials ETF (SETM) is an exchange-traded fund that mostly invests in materials equity. The fund supports the global move to cleaner energy by tracking an index of US and foreign companies related to energy transition materials. Securities are selected based on revenue and weighted by market-cap.