Short Interest in Spear Alpha ETF (NASDAQ:SPRX) Decreases By 53.7%

Spear Alpha ETF (NASDAQ:SPRX) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 134,980 shares, a drop of 53.7% from the April 15th total of 291,265 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 103,855 shares, the days-to-cover ratio is presently 1.3 days.

Spear Alpha ETF Trading Down 4.5%

Shares of SPRX stock traded down $2.26 during trading hours on Friday, hitting $48.15. 87,332 shares of the company’s stock were exchanged, compared to its average volume of 159,126. The company has a market capitalization of $202.23 million, a PE ratio of 60.13 and a beta of 1.59. Spear Alpha ETF has a 12-month low of $25.29 and a 12-month high of $50.53. The business’s 50 day simple moving average is $41.13 and its 200-day simple moving average is $40.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Fifth Third Securities Inc. purchased a new position in shares of Spear Alpha ETF in the fourth quarter worth $949,000. Claris Financial LLC purchased a new position in shares of Spear Alpha ETF in the fourth quarter worth $516,000. FSA Advisors Inc. increased its stake in shares of Spear Alpha ETF by 7.5% in the first quarter. FSA Advisors Inc. now owns 11,667 shares of the company’s stock worth $415,000 after buying an additional 815 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Spear Alpha ETF in the fourth quarter worth $69,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Spear Alpha ETF in the fourth quarter worth $38,000.

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.