iShares Transition-Enabling Metals ETF (NASDAQ:TMET) Sees Large Decrease in Short Interest
by Mitch Edgeman · The Markets DailyiShares Transition-Enabling Metals ETF (NASDAQ:TMET – Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 28,854 shares, a decrease of 92.6% from the March 15th total of 391,632 shares. Based on an average trading volume of 11,795 shares, the days-to-cover ratio is currently 2.4 days. Approximately 3.6% of the shares of the stock are short sold.
iShares Transition-Enabling Metals ETF Trading Up 1.0%
Shares of TMET stock traded up $0.32 during mid-day trading on Friday, hitting $31.10. 3,341 shares of the stock were exchanged, compared to its average volume of 12,259. The firm has a fifty day moving average of $30.54 and a 200 day moving average of $29.54. iShares Transition-Enabling Metals ETF has a 52-week low of $22.34 and a 52-week high of $37.54.
Hedge Funds Weigh In On iShares Transition-Enabling Metals ETF
A hedge fund recently raised its stake in iShares Transition-Enabling Metals ETF stock. Susquehanna International Group LLP raised its stake in shares of iShares Transition-Enabling Metals ETF (NASDAQ:TMET – Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,453 shares of the company’s stock after purchasing an additional 3,753 shares during the period. Susquehanna International Group LLP owned 3.36% of iShares Transition-Enabling Metals ETF worth $359,000 at the end of the most recent quarter.
About iShares Transition-Enabling Metals ETF
The iShares Transition-Enabling Metals ETF (TMET) is an exchange-traded fund that is based on the ICE Clean Energy Transition Metals index. The fund tracks an index that measures the performance of a basket of exchange-traded metals futures contracts. The metals selected are those considered essential to clean energy technologies in supporting the transition to a low-carbon economy. TMET was launched on Sep 26, 2023 and is issued by BlackRock.