Spear Alpha ETF (NASDAQ:SPRX) Sees Large Drop in Short Interest

Spear Alpha ETF (NASDAQ:SPRX) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 24,987 shares, a decrease of 74.0% from the August 15th total of 96,230 shares. Based on an average daily volume of 58,909 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Trading of Spear Alpha ETF

A number of hedge funds have recently bought and sold shares of SPRX. GoalVest Advisory LLC boosted its holdings in shares of 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 buying an additional 96,693 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Spear Alpha ETF in the second quarter worth $232,000. FSA Advisors Inc. raised its position in Spear Alpha ETF by 7.5% during the first quarter. FSA Advisors Inc. now owns 11,667 shares of the company’s stock valued at $415,000 after buying an additional 815 shares during the period. Claris Financial LLC purchased a new stake in Spear Alpha ETF in the 4th quarter worth about $516,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Spear Alpha ETF in the 4th quarter worth about $69,000.

Spear Alpha ETF Stock Performance

Shares of NASDAQ SPRX traded up $0.78 during trading on Friday, hitting $45.49. The company had a trading volume of 28,597 shares, compared to its average volume of 142,606. The company has a market cap of $218.35 million, a P/E ratio of 60.13 and a beta of 1.67. Spear Alpha ETF has a 52 week low of $32.75 and a 52 week high of $59.10. The business’s 50-day moving average is $46.08 and its 200 day moving average is $45.94.

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.