Short Interest in Spear Alpha ETF (NASDAQ:SPRX) Drops By 25.3%

Spear Alpha ETF (NASDAQ:SPRX) saw a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 13,900 shares, a drop of 25.3% from the May 15th total of 18,600 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 46,900 shares, the days-to-cover ratio is presently 0.3 days.

Spear Alpha ETF Stock Up 1.9%

NASDAQ SPRX opened at $28.07 on Thursday. Spear Alpha ETF has a 52-week low of $16.31 and a 52-week high of $30.42. The business’s 50-day moving average price is $24.15 and its 200 day moving average price is $24.96. The firm has a market cap of $59.79 million, a P/E ratio of 42.52 and a beta of 1.21.

Hedge Funds Weigh In On Spear Alpha ETF

A hedge fund recently bought a new stake in Spear Alpha ETF stock. Parallel Advisors LLC purchased a new stake in shares of Spear Alpha ETF (NASDAQ:SPRX) in the first quarter, according to its most recent filing with the SEC. The firm purchased 1,684 shares of the company’s stock, valued at approximately $33,000. Parallel Advisors LLC owned 0.08% of Spear Alpha ETF at the end of the most recent quarter.

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.