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

Spear Alpha ETF (NASDAQ:SPRX) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 170,913 shares, a decline of 24.7% from the February 26th total of 227,040 shares. Based on an average daily volume of 135,166 shares, the short-interest ratio is currently 1.3 days. Approximately 4.4% of the company’s shares are short sold.

Spear Alpha ETF Stock Up 6.2%

NASDAQ:SPRX traded up $2.06 during trading hours on Tuesday, hitting $35.20. 97,046 shares of the stock were exchanged, compared to its average volume of 181,109. The company’s 50 day moving average is $39.36 and its two-hundred day moving average is $39.64. The company has a market capitalization of $135.52 million, a P/E ratio of 60.13 and a beta of 1.52. Spear Alpha ETF has a twelve month low of $16.31 and a twelve month high of $44.48.

Hedge Funds Weigh In On Spear Alpha ETF

Several hedge funds have recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new stake in Spear Alpha ETF in the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC bought a new position in shares of Spear Alpha ETF in the 4th quarter valued at about $69,000. FSA Advisors Inc. boosted its stake in shares of Spear Alpha ETF by 12.3% in the 3rd quarter. FSA Advisors Inc. now owns 8,921 shares of the company’s stock valued at $344,000 after purchasing an additional 978 shares during the last quarter. Claris Financial LLC acquired a new stake in shares of Spear Alpha ETF during the 4th quarter worth approximately $516,000. Finally, Fifth Third Securities Inc. bought a new stake in shares of Spear Alpha ETF during the fourth quarter worth approximately $949,000.

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.