Spark I Acquisition (NASDAQ:SPKL) Trading Down 1.1% - Here's What Happened

Key Points

• Spark I Acquisition Corporation (NASDAQ:SPKL) experienced a stock price decline of 1.1%, trading at $11.64 after reaching a low of $11.61 during the day.
• Institutional investors have shown increased interest, with significant stakes acquired in the second quarter, including Radcliffe Capital Management and Alberta Investment Management Corp.
• The company, which was incorporated in 2021 and based in Palo Alto, California, aims to pursue a merger or acquisition but currently has no significant operations.

Spark I Acquisition Corporation (NASDAQ:SPKL - )'s stock price traded down 1.1% during mid-day trading on Thursday . The company traded as low as $11.61 and last traded at $11.64. 2,319 shares were traded during mid-day trading, a decline of 83% from the average session volume of 13,692 shares. The stock had previously closed at $11.77.

Spark I Acquisition Stock Down 1.1%

The stock has a fifty day moving average of $11.04 and a 200-day moving average of $10.91.

Institutional Trading of Spark I Acquisition

A number of institutional investors have recently bought and sold shares of the business. Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition during the 2nd quarter worth about $531,000. StoneX Group Inc. acquired a new stake in shares of Spark I Acquisition during the second quarter worth about $700,000. Alberta Investment Management Corp acquired a new stake in shares of Spark I Acquisition during the second quarter worth about $1,635,000. Wolverine Asset Management LLC increased its position in shares of Spark I Acquisition by 43.4% during the first quarter. Wolverine Asset Management LLC now owns 682,588 shares of the company's stock worth $7,379,000 after purchasing an additional 206,713 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of Spark I Acquisition by 137.4% during the first quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company's stock worth $3,876,000 after purchasing an additional 209,642 shares in the last quarter. 34.90% of the stock is owned by hedge funds and other institutional investors.

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.

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