Sprott Junior Copper Miners ETF (NASDAQ:COPJ) Sees Significant Decrease in Short Interest

Sprott Junior Copper Miners ETF (NASDAQ:COPJ) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 29,869 shares, a decline of 42.8% from the May 14th total of 52,238 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 78,208 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pine Valley Investments Ltd Liability Co lifted its holdings in Sprott Junior Copper Miners ETF by 42.9% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 27,568 shares of the company’s stock worth $1,074,000 after buying an additional 8,270 shares during the period. Client First Investment Management LLC acquired a new position in shares of Sprott Junior Copper Miners ETF in the 4th quarter valued at about $1,083,000. PNC Financial Services Group Inc. lifted its stake in shares of Sprott Junior Copper Miners ETF by 9.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,938 shares of the company’s stock valued at $1,050,000 after purchasing an additional 2,336 shares during the period. Cetera Investment Advisers acquired a new position in shares of Sprott Junior Copper Miners ETF in the 1st quarter valued at about $534,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Sprott Junior Copper Miners ETF in the 3rd quarter valued at about $390,000.

Sprott Junior Copper Miners ETF Stock Up 4.9%

COPJ traded up $2.08 during midday trading on Monday, hitting $44.61. 82,569 shares of the company were exchanged, compared to its average volume of 189,167. The firm has a market capitalization of $181.56 million, a P/E ratio of 11.67 and a beta of 0.97. Sprott Junior Copper Miners ETF has a 1-year low of $23.02 and a 1-year high of $53.94. The firm’s 50 day moving average price is $42.56 and its 200-day moving average price is $42.36.

About Sprott Junior Copper Miners ETF

The Sprott Junior Copper Miners ETF (COPJ) is an exchange-traded fund that is based on the Nasdaq Sprott Junior Copper Miners index. The fund seeks to track an index of small copper miners around the globe, primarily those with revenues tied to the mining, development and production of copper. Securities are selected using a fundamental, proprietary methodology and weighted by market cap. COPJ was launched on Feb 1, 2023 and is managed by Sprott.