Spear Alpha ETF (NASDAQ:SPRX – Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 24,987 shares, a decline of 74.0% from the August 15th total of 96,230 shares. Based on an average trading volume of 58,909 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.5% of the company’s shares are sold short.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC purchased a new position in Spear Alpha ETF in the 4th quarter worth about $69,000. Worth Asset Management LLC purchased a new stake in Spear Alpha ETF in the 2nd quarter valued at about $232,000. FSA Advisors Inc. grew its stake in Spear Alpha ETF by 7.5% in 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. Claris Financial LLC bought a new position in Spear Alpha ETF in the 4th quarter worth about $516,000. Finally, GoalVest Advisory LLC increased its position in shares of Spear Alpha ETF by 63.6% during 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 Performance
Spear Alpha ETF stock traded up $0.78 during mid-day trading on Friday, hitting $45.49. The company’s stock had a trading volume of 28,597 shares, compared to its average volume of 142,606. The company has a 50 day moving average of $46.08 and a 200-day moving average of $45.94. Spear Alpha ETF has a one year low of $32.75 and a one year high of $59.10. The stock has a market cap of $218.35 million, a PE 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.
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