Sprott Nickel Miners ETF (NASDAQ:NIKL) Stock Price Down 2.6% – Here’s Why

Shares of Sprott Nickel Miners ETF (NASDAQ:NIKL) were down 2.6% on Thursday . The stock traded as low as $14.35 and last traded at $14.38. Approximately 849,002 shares changed hands during trading, an increase of 1,910% from the average daily volume of 42,232 shares. The stock had previously closed at $14.76.

Sprott Nickel Miners ETF Trading Down 2.6%

The company has a market capitalization of $29.19 million, a PE ratio of 18.88 and a beta of 0.78. The firm has a fifty day moving average of $14.20 and a two-hundred day moving average of $12.20.

Institutional Investors Weigh In On Sprott Nickel Miners ETF

A hedge fund recently bought a new stake in Sprott Nickel Miners ETF stock. Bank of Montreal Can bought a new stake in shares of Sprott Nickel Miners ETF (NASDAQ:NIKL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,148 shares of the company’s stock, valued at approximately $681,000. Bank of Montreal Can owned 6.06% of Sprott Nickel Miners ETF at the end of the most recent reporting period.

About Sprott Nickel Miners ETF

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.