Global X Lithium & Battery Tech ETF (NYSEARCA:LIT – Get Free Report) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 427,241 shares, a decrease of 43.9% from the May 31st total of 761,395 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily volume of 754,307 shares, the days-to-cover ratio is currently 0.6 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Global X Lithium & Battery Tech ETF by 36.8% during the first quarter. Bank of America Corp DE now owns 340,424 shares of the company’s stock valued at $25,310,000 after purchasing an additional 91,542 shares during the period. Bank of Montreal Can increased its position in shares of Global X Lithium & Battery Tech ETF by 2,888.0% during the 4th quarter. Bank of Montreal Can now owns 265,692 shares of the company’s stock valued at $17,233,000 after purchasing an additional 256,800 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Global X Lithium & Battery Tech ETF by 42.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 216,095 shares of the company’s stock valued at $12,285,000 after purchasing an additional 64,273 shares during the last quarter. UBS Group AG raised its holdings in Global X Lithium & Battery Tech ETF by 4.2% during the 3rd quarter. UBS Group AG now owns 157,939 shares of the company’s stock valued at $8,979,000 after buying an additional 6,317 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Global X Lithium & Battery Tech ETF by 269.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 146,158 shares of the company’s stock valued at $8,291,000 after buying an additional 106,618 shares during the period.
Global X Lithium & Battery Tech ETF Stock Performance
Shares of NYSEARCA:LIT traded down $1.44 on Thursday, reaching $76.53. The company’s stock had a trading volume of 314,002 shares, compared to its average volume of 431,754. Global X Lithium & Battery Tech ETF has a 52-week low of $38.16 and a 52-week high of $91.98. The company has a market cap of $1.74 billion, a P/E ratio of 21.25 and a beta of 1.02. The company has a 50-day simple moving average of $83.55 and a 200 day simple moving average of $75.86.
About Global X Lithium & Battery Tech ETF
Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.
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