Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sees Large Decline in Short Interest

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) saw a significant drop in short interest in August. As of August 14th, there was short interest totaling 379,627 shares, a drop of 45.5% from the July 30th total of 696,192 shares. Based on an average daily trading volume, of 174,542 shares, the short-interest ratio is presently 2.2 days. Currently, 1.8% of the company’s stock are short sold.

Global X Lithium & Battery Tech ETF Stock Up 0.4%

Shares of NYSEARCA:LIT traded up $0.30 on Monday, reaching $76.37. The company had a trading volume of 192,007 shares, compared to its average volume of 381,378. The stock has a market capitalization of $1.65 billion, a P/E ratio of 21.25 and a beta of 1.02. The stock has a 50-day moving average price of $73.36 and a 200 day moving average price of $76.90. Global X Lithium & Battery Tech ETF has a twelve month low of $46.27 and a twelve month high of $91.98.

Institutional Investors Weigh In On Global X Lithium & Battery Tech ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in LIT. JPMorgan Chase & Co. raised its position in shares of Global X Lithium & Battery Tech ETF by 47.0% in the second quarter. JPMorgan Chase & Co. now owns 12,523 shares of the company’s stock valued at $481,000 after purchasing an additional 4,005 shares during the period. Sei Investments Co. acquired a new stake in shares of Global X Lithium & Battery Tech ETF in the second quarter worth $240,000. Betterment LLC bought a new stake in shares of Global X Lithium & Battery Tech ETF during the 2nd quarter worth $206,000. Ameriprise Financial Inc. boosted its holdings in shares of Global X Lithium & Battery Tech ETF by 10.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,540 shares of the company’s stock worth $1,492,000 after buying an additional 3,839 shares during the period. Finally, Barclays PLC grew its stake in Global X Lithium & Battery Tech ETF by 224.1% in the 3rd quarter. Barclays PLC now owns 28,175 shares of the company’s stock valued at $1,602,000 after buying an additional 19,482 shares during the last quarter.

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.