Snow Lake Resources Ltd. (NASDAQ:LITM – Get a rating) benefited from a sharp increase in short-term interest during the month of May. As of May 31, there was short interest totaling 290,100 shares, an increase of 87.2% from the May 15 total of 155,000 shares. Based on an average trading volume of 678,400 shares, the short-term interest rate ratio is currently 0.4 days.
Shares of NASDAQ LIMC opened at $4.58 on Monday. Snow Lake Resources has a 1-year low of $2.42 and a 1-year high of $18.42. The company has a 50-day simple moving average of $4.47 and a two-hundred-day simple moving average of $5.74.
A number of hedge funds have recently changed their stock holdings. JS Capital Management LLC bought a new position in Snow Lake Resources during the fourth quarter valued at approximately $202,841,000. murchinson ltd. acquired a new position in Snow Lake Resources during the fourth quarter valued at approximately $595,000. Kepos Capital LP bought a new position in Snow Lake Resources during the fourth quarter valued at around $576,000. Lynwood Capital Management Inc. acquired a new position in Snow Lake Resources during the first quarter valued at approximately $470,000. Finally, Citigroup Inc. bought a new position in Snow Lake Resources during the first quarter valued at around $186,000. 8.17% of the shares are currently held by institutional investors.
About Snow Lake Resources (Get a rating)
Snow Lake Resources Ltd., a natural resource exploration company, is engaged in the exploration and development of mineral resources in Canada. The Company explores lithium mineral resources. Its main asset is the Thompson Brothers Lithium property, which consists of 38 contiguous mining claims located in Manitoba.
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