Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Significant Increase in Short Interest

Key Points

• Spark I Acquisition Corporation experienced a remarkable 275.0% increase in short interest during July, with total short interest rising from 2,800 shares to 10,500 shares as of July 15th.
• Approximately 0.2% of SPKL's shares are currently short sold, reflecting a days-to-cover ratio of 0.2 days based on an average daily trading volume of 64,200 shares.
• Institutional investors hold 34.90% of Spark I Acquisition's stock, with significant stake increases from firms like Bulldog Investors LLP and Mizuho Securities USA LLC in recent quarters.

Spark I Acquisition Corporation (NASDAQ:SPKL - Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 10,500 shares, anincreaseof275.0% from the June 30th total of 2,800 shares. Currently,0.2% of the shares of the company are sold short. Based on an average trading volume of 64,200 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 64,200 shares, the short-interest ratio is presently 0.2 days. Currently,0.2% of the shares of the company are sold short.

Spark I Acquisition Stock Performance

SPKL stock traded up $0.01 during mid-day trading on Wednesday, reaching $10.98. 182 shares of the company's stock were exchanged, compared to its average volume of 38,855. The stock's 50 day moving average is $10.91 and its 200 day moving average is $10.82. Spark I Acquisition has a 12-month low of $10.44 and a 12-month high of $11.95.

Hedge Funds Weigh In On Spark I Acquisition

Institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. grew its stake in Spark I Acquisition by 12.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 175,145 shares of the company's stock worth $1,864,000 after purchasing an additional 18,952 shares in the last quarter. Bulldog Investors LLP boosted its stake in Spark I Acquisition by 46.6% in the fourth quarter. Bulldog Investors LLP now owns 149,734 shares of the company's stock valued at $1,593,000 after acquiring an additional 47,616 shares during the period. Wolverine Asset Management LLC boosted its stake in Spark I Acquisition by 43.4% in the first quarter. Wolverine Asset Management LLC now owns 682,588 shares of the company's stock valued at $7,379,000 after acquiring an additional 206,713 shares during the period. Mizuho Securities USA LLC boosted its stake in Spark I Acquisition by 137.4% in the first quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company's stock valued at $3,876,000 after acquiring an additional 209,642 shares during the period. Finally, Toronto Dominion Bank acquired a new position in Spark I Acquisition in the fourth quarter valued at approximately $5,320,000. Hedge funds and other institutional investors own 34.90% of the company's stock.

Spark I Acquisition Company Profile

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.