Spark I Acquisition Co. (NASDAQ:SPKL) Sees Significant Drop in Short Interest

Spark I Acquisition Co. (NASDAQ:SPKLGet Free Report) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 300 shares, a decline of 94.0% from the May 15th total of 5,000 shares. Based on an average daily volume of 33,000 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Spark I Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of SPKL. Periscope Capital Inc. purchased a new position in shares of Spark I Acquisition in the 1st quarter worth approximately $4,280,000. Karpus Management Inc. purchased a new position in shares of Spark I Acquisition in the 4th quarter worth approximately $3,549,000. Picton Mahoney Asset Management purchased a new position in shares of Spark I Acquisition in the 4th quarter worth approximately $2,536,000. Schechter Investment Advisors LLC purchased a new position in shares of Spark I Acquisition in the 4th quarter worth approximately $2,313,000. Finally, Kim LLC purchased a new position in shares of Spark I Acquisition in the 4th quarter worth approximately $1,521,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Stock Performance

SPKL stock traded down $0.01 during mid-day trading on Friday, reaching $10.34. 3,682 shares of the company traded hands, compared to its average volume of 33,535. Spark I Acquisition has a fifty-two week low of $10.07 and a fifty-two week high of $11.35. The company has a 50 day simple moving average of $10.32.

Spark I Acquisition Company Profile

(Get Free Report)

Spark I Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar combination with one or more businesses or assets. The company was incorporated in 2021 and is based in Palo Alto, California.

Further Reading

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