RiverNorth Enhanced Pre-Merger SPAC ETF (BATS:SPCZ) Sees Large Drop in Short Interest

RiverNorth Enhanced Pre-Merger SPAC ETF (BATS:SPCZ) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 2,642 shares, a decrease of 82.0% from the May 31st total of 14,709 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 4,356 shares, the days-to-cover ratio is presently 0.6 days.

RiverNorth Enhanced Pre-Merger SPAC ETF Stock Performance

Shares of RiverNorth Enhanced Pre-Merger SPAC ETF stock opened at $26.03 on Friday. RiverNorth Enhanced Pre-Merger SPAC ETF has a 52-week low of $24.83 and a 52-week high of $29.01. The company’s 50 day moving average price is $25.90 and its 200-day moving average price is $25.97. The stock has a market capitalization of $5.08 million, a price-to-earnings ratio of 58.23 and a beta of -0.02.

About RiverNorth Enhanced Pre-Merger SPAC ETF

The RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively managed fund that holds US-listed, small- and mid-cap pre-combination SPAC securities. SPCZ was launched on Jul 11, 2022 and is managed by RiverNorth.