Short Interest in SPAC and New Issue ETF (NASDAQ:SPCK) Expands By 176.9%

SPAC and New Issue ETF (NASDAQ:SPCK) was the recipient of a large increase in short interest in 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 presently 3.4 days. Currently, 8.4% of the shares of the stock are short sold.

SPAC and New Issue ETF Stock Down 1.1%

SPCK stock traded down $0.25 during mid-day trading on Friday, hitting $22.09. The stock had a trading volume of 59,450 shares, compared to its average volume of 3,563. SPAC and New Issue ETF has a 52 week low of $21.32 and a 52 week high of $26.61. The stock’s fifty day moving average is $22.13.

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.