Spear Alpha ETF (NASDAQ:SPRX – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 24,987 shares, a drop of 74.0% from the August 15th total of 96,230 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 58,909 shares, the days-to-cover ratio is presently 0.4 days.
Spear Alpha ETF Price Performance
SPRX traded up $0.78 on Friday, reaching $45.49. 28,597 shares of the company traded hands, compared to its average volume of 142,606. The company has a market cap of $218.35 million, a price-to-earnings ratio of 60.13 and a beta of 1.67. The stock’s 50 day moving average price is $46.08 and its 200-day moving average price is $45.94. Spear Alpha ETF has a 52-week low of $32.75 and a 52-week high of $59.10.
Hedge Funds Weigh In On Spear Alpha ETF
A number of hedge funds have recently modified their holdings of SPRX. FSA Advisors Inc. raised its holdings in shares of Spear Alpha ETF by 7.5% during the first quarter. FSA Advisors Inc. now owns 11,667 shares of the company’s stock worth $415,000 after acquiring an additional 815 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in Spear Alpha ETF in the fourth quarter valued at about $69,000. Worth Asset Management LLC purchased a new position in Spear Alpha ETF in the second quarter valued at about $232,000. Claris Financial LLC acquired a new position in Spear Alpha ETF in the 4th quarter worth about $516,000. Finally, GoalVest Advisory LLC increased its position in Spear Alpha ETF by 63.6% in the 2nd quarter. GoalVest Advisory LLC now owns 248,646 shares of the company’s stock worth $14,416,000 after purchasing an additional 96,693 shares during the last 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.
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