SP Funds Dow Jones Global Sukuk ETF (NYSEARCA:SPSK) Sees Significant Growth in Short Interest

SP Funds Dow Jones Global Sukuk ETF (NYSEARCA:SPSK) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 79,106 shares, a growth of 63.4% from the July 15th total of 48,400 shares. Based on an average daily trading volume, of 229,998 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in SP Funds Dow Jones Global Sukuk ETF by 10.0% during the fourth quarter. Farther Finance Advisors LLC now owns 42,110 shares of the company’s stock worth $769,000 after buying an additional 3,842 shares during the last quarter. DGS Capital Management LLC grew its holdings in SP Funds Dow Jones Global Sukuk ETF by 3.0% during the 1st quarter. DGS Capital Management LLC now owns 27,505 shares of the company’s stock worth $492,000 after acquiring an additional 789 shares during the period. Finally, Strategic Blueprint LLC raised its position in shares of SP Funds Dow Jones Global Sukuk ETF by 5.2% in the 4th quarter. Strategic Blueprint LLC now owns 12,264 shares of the company’s stock worth $224,000 after acquiring an additional 601 shares in the last quarter.

SP Funds Dow Jones Global Sukuk ETF Price Performance

Shares of SPSK remained flat at $17.92 during mid-day trading on Tuesday. The stock had a trading volume of 320,604 shares, compared to its average volume of 288,953. SP Funds Dow Jones Global Sukuk ETF has a 52 week low of $17.76 and a 52 week high of $18.71. The stock has a 50 day simple moving average of $17.94 and a 200 day simple moving average of $18.04.

About SP Funds Dow Jones Global Sukuk ETF

The SP Funds Dow Jones Global Sukuk ETF (SPSK) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of USD-denominated global investment-grade sukuk of various maturities and weighted by market value. SPSK was launched on Dec 30, 2019 and is managed by SP Funds.