SPAC and New Issue ETF (NASDAQ:SPCK) Short Interest Up 146.1% in July

SPAC and New Issue ETF (NASDAQ:SPCK) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 15,676 shares, a growth of 146.1% from the July 15th total of 6,369 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 2,350 shares, the days-to-cover ratio is presently 6.7 days.

SPAC and New Issue ETF Trading Up 1.1%

SPCK traded up $0.24 on Friday, hitting $22.37. The company’s stock had a trading volume of 2,081 shares, compared to its average volume of 3,811. SPAC and New Issue ETF has a 12 month low of $21.32 and a 12 month high of $25.95. The stock’s 50 day simple moving average is $22.20.

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.