Short Interest in Spear Alpha ETF (NASDAQ:SPRX) Grows By 121.4%

Spear Alpha ETF (NASDAQ:SPRX) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 194,400 shares, a growth of 121.4% from the September 30th total of 87,800 shares. Based on an average daily trading volume, of 120,400 shares, the days-to-cover ratio is presently 1.6 days. Approximately 5.5% of the shares of the stock are sold short. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 120,400 shares, the days-to-cover ratio is presently 1.6 days.

Spear Alpha ETF Stock Performance

SPRX stock opened at $42.19 on Friday. Spear Alpha ETF has a one year low of $16.31 and a one year high of $43.44. The company’s fifty day moving average price is $38.47 and its 200-day moving average price is $31.52. The company has a market capitalization of $149.77 million, a PE ratio of 60.13 and a beta of 1.52.

Hedge Funds Weigh In On Spear Alpha ETF

A hedge fund recently bought a new stake in Spear Alpha ETF stock. FSA Advisors Inc. bought a new position in Spear Alpha ETF (NASDAQ:SPRX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,943 shares of the company’s stock, valued at approximately $235,000. FSA Advisors Inc. owned approximately 0.39% of Spear Alpha ETF as of its most recent filing with the Securities & Exchange Commission.

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.