Short Interest in Spok Holdings, Inc. (NASDAQ:SPOK) Rises By 238.5%

Spok Holdings, Inc. (NASDAQ:SPOK) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 696,300 shares, an increase of 238.5% from the August 15th total of 205,700 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily volume of 414,800 shares, the days-to-cover ratio is presently 1.7 days.

Shares of NASDAQ SPOK opened at $10.00 on Wednesday. Spok has a 1 year low of $7.16 and a 1 year high of $12.86. The firm’s 50 day moving average price is $8.72 and its 200 day moving average price is $10.00. The firm has a market cap of $194.67 million, a P/E ratio of -4.10 and a beta of 0.27.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 17th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Monday, August 16th.

Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in Spok by 29.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 24,630 shares of the Wireless communications provider’s stock worth $258,000 after purchasing an additional 5,638 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Spok by 58.1% in the first quarter. Ensign Peak Advisors Inc now owns 4,900 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 1,800 shares during the last quarter. Principal Financial Group Inc. grew its position in Spok by 1.4% during the first quarter. Principal Financial Group Inc. now owns 122,472 shares of the Wireless communications provider’s stock valued at $1,285,000 after acquiring an additional 1,740 shares during the period. Guggenheim Capital LLC acquired a new stake in Spok during the first quarter worth about $222,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Spok in the 1st quarter worth about $119,000. Institutional investors and hedge funds own 69.45% of the company’s stock.

Spok Company Profile

Spok Holdings, Inc engages in the provision of communication solutions. It provides call centre operations, clinical alerting and notifications, one-way and advanced two-way wireless messaging services, mobile communications and public safety solutions. The company was founded in 1965 and is headquartered in Springfield, VA.

Further Reading: Mutual funds are not immune from market timing

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