Spark I Acquisition Co. (NASDAQ:SPKL) Short Interest Up 17.4% in February

Spark I Acquisition Co. (NASDAQ:SPKL) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,700 shares, an increase of 17.4% from the February 13th total of 2,300 shares. Based on an average daily trading volume, of 18,700 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bulldog Investors LLP grew its stake in shares of 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 buying an additional 47,616 shares in the last quarter. Mizuho Securities USA LLC purchased a new position in Spark I Acquisition in the 4th quarter worth approximately $1,616,000. D. E. Shaw & Co. Inc. grew its position 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 valued at $1,864,000 after acquiring an additional 18,952 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of Spark I Acquisition by 19.5% during the fourth quarter. Wolverine Asset Management LLC now owns 475,875 shares of the company’s stock valued at $5,063,000 after purchasing an additional 77,581 shares during the period. Finally, Toronto Dominion Bank acquired a new position in shares of Spark I Acquisition during the fourth quarter worth $5,320,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Spark I Acquisition Price Performance

Shares of SPKL stock opened at $10.76 on Friday. The company’s fifty day simple moving average is $10.71 and its 200-day simple moving average is $10.60. Spark I Acquisition has a 52 week low of $10.26 and a 52 week high of $11.95.

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.