SPAC and New Issue ETF (NASDAQ:SPCK) Short Interest Up 176.9% in May

SPAC and New Issue ETF (NASDAQ:SPCK) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 26,731 shares, an increase of 176.9% from the May 14th total of 9,652 shares. Based on an average daily trading volume, of 7,859 shares, the days-to-cover ratio is currently 3.4 days. Currently, 8.4% of the company’s stock are short sold.

SPAC and New Issue ETF Stock Down 1.1%

Shares of NASDAQ:SPCK traded down $0.25 during trading on Friday, reaching $22.09. 59,450 shares of the stock traded hands, compared to its average volume of 3,563. The firm’s 50-day moving average price is $22.13. SPAC and New Issue ETF has a 52-week low of $21.32 and a 52-week high of $26.61.

SPAC and New Issue ETF (NASDAQ: SPCK) is an exchange-traded fund designed to provide investors with exposure to companies that have recently gone public, including special purpose acquisition companies and other new issues. The fund seeks to track a rules-based index focused on newly listed U.S. equities, giving investors a way to access a segment of the market that can be characterized by early-stage growth opportunities and higher volatility.

The ETF primarily invests in securities that have recently completed an initial public offering or SPAC transaction, and it may also hold related cash equivalents or short-term instruments as part of its portfolio management approach.