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

Spear Alpha ETF (NASDAQ:SPRX) saw a large decrease in short interest in 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 presently 0.4 days. Approximately 0.5% of the company’s shares are sold short.

Spear Alpha ETF Trading Down 7.5%

NASDAQ SPRX traded down $3.42 during trading hours on Monday, hitting $42.07. 51,008 shares of the company’s stock were exchanged, compared to its average volume of 142,082. The firm has a market cap of $201.94 million, a price-to-earnings ratio of 60.13 and a beta of 1.67. The stock has a 50-day simple moving average of $46.08 and a 200 day simple moving average of $45.99. Spear Alpha ETF has a 1-year low of $32.75 and a 1-year high of $59.10.

Institutional Trading of Spear Alpha ETF

Hedge funds have recently modified their holdings of the stock. GoalVest Advisory LLC boosted its stake in 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 in the last quarter. Worth Asset Management LLC bought a new stake in Spear Alpha ETF in the second quarter valued at $232,000. FSA Advisors Inc. raised its holdings in shares of 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 purchasing an additional 815 shares during the period. Claris Financial LLC acquired a new position in shares of Spear Alpha ETF during the fourth quarter valued at about $516,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Spear Alpha ETF during the 4th quarter worth about $69,000.

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.