SPAC and New Issue ETF (NASDAQ:SPCX) Stock Price Down 0% – Should You Sell?

SPAC and New Issue ETF (NASDAQ:SPCX)’s stock price dropped 0% during mid-day trading on Thursday . The stock traded as low as $21.84 and last traded at $21.8450. Approximately 418 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,030 shares. The stock had previously closed at $21.85.

SPAC and New Issue ETF Stock Down 0.0%

The firm has a market cap of $6.99 million, a price-to-earnings ratio of 142.96 and a beta of 0.05. The business has a 50 day moving average of $22.69 and a 200 day moving average of $24.30.

SPAC and New Issue ETF Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Friday, December 26th. Shareholders of record on Wednesday, December 24th were paid a $0.4858 dividend. This represents a yield of 222.0%. The ex-dividend date of this dividend was Wednesday, December 24th.

About SPAC and New Issue ETF

The AXS SPAC and New Issue ETF (SPCX) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively-managed fund that aims to provide a broad exposure to Special Purpose Acquisitions Corporations (SPACs) and newly-listed firms. SPCX was launched on Dec 16, 2020 and is managed by AXS Investments.