Snow Lake Resources Ltd. (NASDAQ:LITM) Sees Large Growth in Short Interest

Snow Lake Resources Ltd. (NASDAQ:LITM – Get Rating) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 109,900 shares, an increase of 39.1% from the February 13th total of 79,000 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 124,500 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On Snow Lake Resources

Several hedge funds and other institutional investors have recently bought and sold shares of LITM. Walleye Capital LLC acquired a new position in Snow Lake Resources in the second quarter valued at $489,000. Jane Street Group LLC acquired a new position in shares of Snow Lake Resources during the second quarter valued at about $83,000. Virtu Financial LLC acquired a new position in shares of Snow Lake Resources during the fourth quarter valued at about $53,000. Citigroup Inc. acquired a new position in shares of Snow Lake Resources during the first quarter valued at about $186,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Snow Lake Resources during the first quarter valued at about $151,000. Institutional investors and hedge funds own 8.17% of the company’s stock.

Snow Lake Resources Trading Down 0.5 %

Shares of NASDAQ:LITM opened at $1.83 on Tuesday. Snow Lake Resources has a 52 week low of $1.52 and a 52 week high of $10.50. The firm’s fifty day moving average is $2.28 and its 200-day moving average is $2.46.

Snow Lake Resources Company Profile

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Snow Lake Resources Ltd., a natural resource exploration company, engages in the exploration and development of mineral resources in Canada. The company explores for lithium mineral resources. It holds interest in the Thompson Brothers Lithium property covering an area of 55,318 acres; and a 100% interest in Snow Lake Lithium property comprising 122 mineral claims covering an area of 22,386.30 hectares located in north central Manitoba.