Short Interest in Spear Alpha ETF (NASDAQ:SPRX) Increases By 117.4%

Spear Alpha ETF (NASDAQ:SPRX) was the target of a significant 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. Based on an average trading volume of 150,818 shares, the days-to-cover ratio is presently 1.0 days. Currently, 3.1% of the company’s stock are sold short.

Institutional Trading of Spear Alpha ETF

Hedge funds have recently made changes to their positions in the stock. GoalVest Advisory LLC raised its holdings in Spear Alpha ETF by 63.6% in the second quarter. GoalVest Advisory LLC now owns 248,646 shares of the company’s stock valued at $14,416,000 after acquiring an additional 96,693 shares in the last quarter. Claris Financial LLC acquired a new position in Spear Alpha ETF during the 4th quarter worth $516,000. FSA Advisors Inc. grew its holdings in Spear Alpha ETF by 7.5% during the 1st quarter. FSA Advisors Inc. now owns 11,667 shares of the company’s stock worth $415,000 after acquiring an additional 815 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Spear Alpha ETF in the 2nd quarter worth about $232,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Spear Alpha ETF in the 4th quarter worth about $69,000.

Spear Alpha ETF Trading Up 0.6%

NASDAQ SPRX traded up $0.32 during mid-day trading on Friday, reaching $49.88. 58,312 shares of the company’s stock traded hands, compared to its average volume of 153,763. Spear Alpha ETF has a 1-year low of $31.55 and a 1-year high of $59.10. The company has a fifty day simple moving average of $49.90 and a 200-day simple moving average of $45.24. The company has a market cap of $239.42 million, a price-to-earnings ratio of 60.13 and a beta of 1.67.

Spear Alpha ETF Company Profile

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.