Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sees Large Decrease in Short Interest
by Danessa Lincoln · The Markets DailyGlobal X Lithium & Battery Tech ETF (NYSEARCA:LIT – Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totaling 189,688 shares, a drop of 61.0% from the March 15th total of 486,403 shares. Based on an average daily trading volume, of 237,524 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.8% of the shares of the company are short sold.
Global X Lithium & Battery Tech ETF Stock Performance
Shares of Global X Lithium & Battery Tech ETF stock traded up $1.16 during mid-day trading on Friday, hitting $77.90. 337,769 shares of the stock were exchanged, compared to its average volume of 374,705. Global X Lithium & Battery Tech ETF has a 12 month low of $34.55 and a 12 month high of $78.54. The company has a 50-day simple moving average of $72.43 and a 200 day simple moving average of $66.63. The company has a market capitalization of $1.82 billion, a P/E ratio of 21.25 and a beta of 0.98.
Institutional Investors Weigh In On Global X Lithium & Battery Tech ETF
A number of hedge funds have recently modified their holdings of LIT. Stonebridge Financial Group LLC bought a new stake in shares of Global X Lithium & Battery Tech ETF in the 3rd quarter worth approximately $16,334,000. Bank of Montreal Can raised its holdings in shares of Global X Lithium & Battery Tech ETF by 2,888.0% in the 4th quarter. Bank of Montreal Can now owns 265,692 shares of the company’s stock worth $17,233,000 after purchasing an additional 256,800 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Global X Lithium & Battery Tech ETF by 269.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 146,158 shares of the company’s stock worth $8,291,000 after purchasing an additional 106,618 shares during the period. Chicago Wealth Management Inc. bought a new stake in shares of Global X Lithium & Battery Tech ETF in the 4th quarter worth approximately $5,041,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Global X Lithium & Battery Tech ETF by 42.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 216,095 shares of the company’s stock worth $12,285,000 after purchasing an additional 64,273 shares during the period.
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.