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

Spear Alpha ETF (NASDAQ:SPRX) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 78,900 shares, a growth of 234.3% from the January 15th total of 23,600 shares. Based on an average daily trading volume, of 28,800 shares, the days-to-cover ratio is presently 2.7 days.

Spear Alpha ETF Price Performance

Shares of Spear Alpha ETF stock traded up $0.38 on Thursday, reaching $28.08. 21,551 shares of the company were exchanged, compared to its average volume of 36,967. Spear Alpha ETF has a 1-year low of $18.05 and a 1-year high of $30.42. The company has a market cap of $53.92 million, a P/E ratio of 38.40 and a beta of 1.21. The stock’s 50 day moving average price is $27.92 and its 200-day moving average price is $24.81.

Institutional Investors Weigh In On Spear Alpha ETF

A hedge fund recently bought a new stake in Spear Alpha ETF stock. NBC Securities Inc. purchased a new stake in Spear Alpha ETF (NASDAQ:SPRX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $45,000. NBC Securities Inc. owned about 0.09% of Spear Alpha ETF as of its most recent SEC filing.

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.