The New Intracoastal Capital Holding in Spherix Inc (NASDAQ:SPEX)
Intracoastal Capital filed with the SEC SC 13G form for Spherix Inc. The form can be accessed here: 000119312515401521. As reported in Intracoastal Capital’s form, the filler as of late owns 4.99% or 2,447,291 shares of the Industrials-company.
Spherix Inc (NASDAQ:SPEX) stake is a new one for the and it was filed because of activity on December 2, 2015. We feel this shows Intracoastal Capital’s positive view for the stock.
Spherix Inc Institutional Sentiment
Latest Security and Exchange filings show 10 investors own Spherix Inc. The institutional ownership in Q3 2015 is low, at 0.85% of the outstanding shares. This is decreased by 663211 the total institutional shares. 293585 were the shares owned by these institutional investors. In total 2 funds opened new Spherix Inc stakes, 1 increased stakes. There were 4 that closed positions and 4 reduced them.
Northern Trust Corp is an institutional investor bullish on Spherix Inc, owning 31110 shares as of Q3 2015 for less than 0.01% of its portfolio. Creative Planning owns 4 shares or less than 0.01% of its portfolio. NJ Kcg Holdings Inc have less than 0.01% of their stock portfolio for 26670 shares. Further, Geode Capital Management Llc reported stake worth less than 0.01% of its US stock portfolio. The CT Timber Hill Llc owns 13360 shares. Spherix Inc is less than 0.01% of the manager’s US portfolio.
Business Profile
Spherix Incorporated is an intellectual property company that owns patented and unpatented intellectual property. The Company is a patent commercialization company that realizes revenue from the monetization of intellectual property. Such monetization includes, but is not limited to, acquiring intellectual property from patent holders and in conducting and managing a licensing campaign. The Company’s activities generally include the acquisition and development of patents through internal or external research and development. In addition, the Company seeks to acquire existing rights to intellectual property through the acquisition of already issued patents and pending patent applications, both in the United States and abroad. It develops products and processes associated with its intellectual property and license its intellectual property to others seeking to develop products or processes or whose products or processes infringe its intellectual property rights through legal processes.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
The institutional sentiment decreased to 0.38 in 2015 Q3. Its down 0.29, from 0.67 in 2015Q2. The ratio is negative, as 4 funds sold all Spherix Inc shares owned while 4 reduced positions. 2 funds bought stakes while 1 increased positions. They now own 293,585 shares or 69.32% less from 956,796 shares in 2015Q2.
Citadel Advisors Llc holds 0% of its portfolio in Spherix Inc for 61,372 shares. Citigroup Inc owns 48 shares or 0% of their US portfolio. Moreover, Creative Planning has 0% invested in the company for 4 shares. The Massachusetts-based Geode Capital Management Llc has invested 0% in the stock. Goldman Sachs Group Inc, a New York-based fund reported 59,267 shares.
The stock increased 9.39% or $0.014 on December 11, hitting $0.164. About 1.10M shares traded hands or 4.76% up from the average. Spherix Inc (NASDAQ:SPEX) has declined 78.26% since May 8, 2015 and is downtrending. It has underperformed by 75.24% the S&P500.
Another recent and important Spherix Inc (NASDAQ:SPEX) news was published by Streetinsider.com which published an article titled: “Spherix Inc (SPEX) Subsidiary Begins Patent Litigation Against Huawei” on June 10, 2014.
According to Zacks Investment Research, “Spherix is a technology innovations company. The Company consists of a Biotechnology Division (BioSpherix), a Commercial Information Services Division (CISD), a Government Information Services Division (GISD), and an Information Technology Division (ITD). CISD, GISD and ITD are collectively referred to as InfoSpherix. The Company is managed along two business segments, BioSpherix and InfoSpherix.” Get a free copy of the Zacks research report on Spherix Inc (SPEX).
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 Intracoastal Capital filed with the SEC SC 13G form for Spherix Inc. The form can be accessed here: 000119312515401521. As reported…){kind=link}