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Horizon Kinetics SPAC Active is an actively-managed exchange-traded fund ("ETF") that pursues its investment objective primarily by investing, under normal circumstances, in special purpose acquisition companies ("SPACs"). A SPAC (also known as a "blank check" company) is an investment vehicle with no commercial operations that is designed to raise capital via an initial public offering ("IPO") for the purpose of engaging in a merger, acquisition, reorganization, or similar business combination (a "Combination") with one or more operating companies to be identified subsequent to the SPAC's IPO. SPACs are often used as a vehicle to transition a company from private to publicly traded as an alternative to a more traditional direct IPO by a private company.
Horizon Kinetics Spac Active ETF trades on the NASDAQ stock market under the symbol SPAQ.
As of December 24, 2025, SPAQ stock price was flat at $91.64 with 655 million shares trading.
SPAQ has a market cap of $9.85 million. This is considered a Sub-Micro Cap stock.
SPAQ has underperformed the market in the last year with a price return of +14.9% while the SPY ETF gained +17.3%. SPAQ has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.2% and -0.1%, respectively, while the SPY returned +4.4% and +1.4%, respectively.
SPAQ support price is $90.46 and resistance is $92.81 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SPAQ shares will trade within this expected range on the day.
