Short Interest in Spear Alpha ETF (NASDAQ:SPRX) Expands By 117.4%
by Mitch Edgeman · The Markets DailySpear Alpha ETF (NASDAQ:SPRX – Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 146,635 shares, an increase of 117.4% from the July 15th total of 67,458 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 150,818 shares, the short-interest ratio is currently 1.0 days.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. FSA Advisors Inc. raised its position in Spear Alpha ETF by 7.5% during the 1st quarter. FSA Advisors Inc. now owns 11,667 shares of the company’s stock valued at $415,000 after purchasing an additional 815 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Spear Alpha ETF during the fourth quarter valued at approximately $69,000. Worth Asset Management LLC purchased a new position in shares of Spear Alpha ETF during the second quarter valued at approximately $232,000. Claris Financial LLC bought a new position in shares of Spear Alpha ETF during the fourth quarter valued at approximately $516,000. Finally, GoalVest Advisory LLC lifted its stake in Spear Alpha ETF by 63.6% in the second quarter. GoalVest Advisory LLC now owns 248,646 shares of the company’s stock worth $14,416,000 after acquiring an additional 96,693 shares during the period.
Spear Alpha ETF Stock Up 0.6%
Shares of NASDAQ SPRX opened at $49.88 on Friday. The company has a market capitalization of $239.42 million, a PE ratio of 60.13 and a beta of 1.67. The stock’s 50 day moving average price is $49.90 and its 200-day moving average price is $45.24. Spear Alpha ETF has a twelve month low of $31.55 and a twelve month high of $59.10.
About Spear Alpha ETF
The Spear Alpha ETF (SPRX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively invests in global thematic companies it believes will benefit from breakthrough innovations in the industrial and technology space. SPRX was launched on Aug 2, 2021 and is managed by Spear.