Spark I Acquisition (NASDAQ:SPKL) Trading Up 0.2% – Here’s Why

Spark I Acquisition Co. (NASDAQ:SPKL)’s stock price was up 0.2% during mid-day trading on Monday . The stock traded as high as $10.59 and last traded at $10.55. Approximately 8,681 shares traded hands during trading, a decline of 74% from the average daily volume of 33,159 shares. The stock had previously closed at $10.53.

Spark I Acquisition Stock Up 0.2 %

The stock has a fifty day moving average price of $10.48 and a 200-day moving average price of $10.39.

Hedge Funds Weigh In On Spark I Acquisition

A hedge fund recently bought a new stake in Spark I Acquisition stock. Periscope Capital Inc. acquired a new position in Spark I Acquisition Co. (NASDAQ:SPKL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 417,200 shares of the company’s stock, valued at approximately $4,280,000. Spark I Acquisition comprises approximately 1.1% of Periscope Capital Inc.’s holdings, making the stock its 27th largest position. Periscope Capital Inc. owned 2.54% of Spark I Acquisition at the end of the most recent reporting period. 34.90% of the stock is currently owned by institutional investors and hedge funds.

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.