Spear Alpha ETF (NASDAQ:SPRX) Sees Significant Decline in Short Interest

Spear Alpha ETF (NASDAQ:SPRX) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 23,600 shares, a decline of 34.1% from the December 31st total of 35,800 shares. Based on an average trading volume of 26,600 shares, the days-to-cover ratio is presently 0.9 days.

Spear Alpha ETF Price Performance

SPRX traded down $0.02 during midday trading on Friday, reaching $27.81. 46,457 shares of the company’s stock traded hands, compared to its average volume of 41,073. Spear Alpha ETF has a 52 week low of $18.05 and a 52 week high of $30.42. The firm has a fifty day moving average of $27.68 and a two-hundred day moving average of $24.47. The stock has a market capitalization of $53.40 million, a price-to-earnings ratio of 38.40 and a beta of 1.21.

Hedge Funds Weigh In On Spear Alpha ETF

An institutional investor recently bought a new position in Spear Alpha ETF stock. NBC Securities Inc. acquired a new stake in shares of Spear Alpha ETF (NASDAQ:SPRX) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,000 shares of the company’s stock, valued at approximately $45,000. NBC Securities Inc. owned 0.09% of Spear Alpha ETF at the end of the most recent quarter.

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.