Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decline in Short Interest

Key Points

• Spark I Acquisition Corporation (NASDAQ:SPKL) experienced a significant decline in short interest, dropping 63.6% from 5,500 shares in July to just 2,000 shares in August.
• Institutional investors have increased their stakes in SPKL, with notable investments from Alberta Investment Management Corp and Mizuho Securities USA LLC, now holding shares valued at over $3.8 million.
• The stock has shown a price performance range between a low of $10.46 and a high of $11.95 over the past year, currently trading at around $10.97.

Spark I Acquisition Corporation (NASDAQ:SPKL - Get Free Report) saw a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 2,000 shares, adropof63.6% from the July 31st total of 5,500 shares. Approximately0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 55,600 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 55,600 shares, the days-to-cover ratio is presently 0.0 days. Approximately0.0% of the shares of the company are short sold.

Institutional Trading of Spark I Acquisition

Several hedge funds have recently added to or reduced their stakes in SPKL. Radcliffe Capital Management L.P. bought a new position in Spark I Acquisition during the 2nd quarter valued at $531,000. StoneX Group Inc. bought a new position in Spark I Acquisition during the 2nd quarter valued at $700,000. Alberta Investment Management Corp bought a new position in Spark I Acquisition during the 2nd quarter valued at $1,635,000. D. E. Shaw & Co. Inc. boosted its stake in Spark I Acquisition by 12.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 175,145 shares of the company's stock valued at $1,864,000 after purchasing an additional 18,952 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in Spark I Acquisition by 137.4% during the first quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company's stock valued at $3,876,000 after purchasing an additional 209,642 shares during the last quarter. Institutional investors own 34.90% of the company's stock.

Spark I Acquisition Price Performance

NASDAQ SPKL traded up $0.01 on Friday, hitting $10.99. The stock had a trading volume of 1,025 shares, compared to its average volume of 2,316. Spark I Acquisition has a one year low of $10.46 and a one year high of $11.95. The company's 50-day moving average is $10.95 and its two-hundred day moving average is $10.87.

About Spark I Acquisition

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.