SPAC and New Issue ETF (NASDAQ:SPCK) Sees Large Growth in Short Interest

SPAC and New Issue ETF (NASDAQ:SPCK) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 15,676 shares, a growth of 146.1% from the July 15th total of 6,369 shares. Based on an average trading volume of 2,350 shares, the days-to-cover ratio is presently 6.7 days. Currently, 4.1% of the shares of the stock are sold short.

SPAC and New Issue ETF Stock Performance

Shares of SPAC and New Issue ETF stock traded up $0.24 during trading on Friday, hitting $22.37. The stock had a trading volume of 2,081 shares, compared to its average volume of 3,811. SPAC and New Issue ETF has a 12 month low of $21.32 and a 12 month high of $25.95. The company’s 50-day moving average price is $22.20.

SPAC and New Issue ETF (NASDAQ: SPCK) is an exchange-traded fund designed to provide investors with exposure to companies that have recently gone public, including special purpose acquisition companies and other new issues. The fund seeks to track a rules-based index focused on newly listed U.S. equities, giving investors a way to access a segment of the market that can be characterized by early-stage growth opportunities and higher volatility.

The ETF primarily invests in securities that have recently completed an initial public offering or SPAC transaction, and it may also hold related cash equivalents or short-term instruments as part of its portfolio management approach.