{"url":"https://etfiq.com/funds/spci/trading/","section":"funds","title":"SPCI Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"SPCI trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Nov 12, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/spci/trading/#data","name":"SPCI trading costs and liquidity","description":"SPCI trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/spci/trading/","dateModified":"2026-11-12","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","variableMeasured":["30-day median bid-ask spread","Premium or discount to NAV","Capacity","Active authorized participants","IQ Liquidity Score","Cost to trade by order size"],"distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}],"publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Who is the LMM for SPCI?","acceptedAnswer":{"@type":"Answer","text":"SPCI\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/spci#fund","name":"Tuttle Capital Space Industry Income Blast ETF","alternateName":"SPCI","url":"https://etfiq.com/funds/spci","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"SPCI"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/spci#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"SPCI","item":"https://etfiq.com/funds/spci"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/spci/trading/"}]},{"@type":"WebPage","name":"SPCI Bid-Ask Spread, Liquidity and NAV Premium","description":"SPCI trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/spci/trading/","dateModified":"2026-11-12","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3750,"truncated":false,"content":"ETFIQ / SPCI / Trading \n \n As of Nov 12, 2026. Rebuilt every trading night.\n SPCI bid-ask spread and liquidity\n As of Nov 12, 2026, SPCI is not scored: ETFIQ reads 0 of its 6 trading measures.\n IQ Liquidity Score\n Not scored, 0 of 6 measured.\n A fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund can be bought and sold, not whether to own it. How the score is built \n Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: no book of its holdings is read Price fidelity Not measured: no closing premium is held for this fund Primary market Not measured: it first traded on 2026-03-12, and no N-CEN ETF row for series S000096822 is in the quarters read (2024q4 to 2026q3) Bad-day behaviour Not measured: no daily closing premium is held for this fund Depth Not measured: needs trade and quote data (Phase 2) \n Capacity\n Not measured: no book of its holdings is read.\n How to trade SPCI\n When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund\u2019s own day once it has trade data. What retail orders paid\n In Sep 2026, retail market orders in SPCI paid $20 one way on $10,000, against $84 at the quote. 90% of shares filled better than the quote.\n SPCI: what retail market orders paid one way on $10,000, Sep 2026, half the effective spread. Source: SEC Rule 605 reports; computed by ETFIQ. Orders One way on $10,000 \n All wholesalers read $20 \n Fidelity customers $13 \n Vanguard customers $20 \n Schwab customers $26 \n Robinhood customers $44 \n SPCI ranked 3098th of 4,090 ETFs by retail order activity in Sep 2026, an ETFIQ estimate. It drew 0.0003% of the market-order dollars in 4 retail brokers\u2019 reports. Retail activity ranking \n Where it trades\n In Q2 2026, 65% of SPCI\u2019s shares traded off exchange on the median day. Odd lots, under 100 shares, were 18.1% of its exchange volume.\n Coming with trade data\n Spread through the day, buyers against sellers, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n Who is the LMM for SPCI? SPCI\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026. Sources and dates\n Retail orders: SEC Rule 605 reports, Sep 2026, from Charles Schwab, G1 Execution Services, Fidelity Brokerage Services, Robinhood, HRT Financial, Jane Street Capital, Vanguard. Computed by ETFIQ. Citadel Securities refused ETFIQ\u2019s request, so its orders are not counted.\n Where it trades: SEC MIDAS, Q2 2026, against the fund\u2019s daily volume from Tiingo.\n Where to next\n SPCI fund page ETF trading costs and liquidity Limit orders vs market orders for ETFs Why low volume does not mean illiquid How the IQ Liquidity Score is built Compare SPCI with another fund The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources \n Cite this page. ETFIQ, SPCI trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/spci/trading/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, SPCI trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/spci/trading/ APA ETFIQ. (Nov 12, 2026). SPCI trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/spci/trading/ Markdown [SPCI trading: cost, capacity, premium and dealers (ETFIQ, Nov 12, 2026)](https://etfiq.com/funds/spci/trading/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, SPCI trading: cost, capacity, premium and dealers, data as of Nov 12, 2026. https://etfiq.com/funds/spci/trading/"}