Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Short Interest Down 44.5% in May

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 20,145 shares, a drop of 44.5% from the May 14th total of 36,280 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 32,085 shares, the days-to-cover ratio is currently 0.6 days.

Pinnacle Focused Opportunities ETF Stock Performance

FCUS traded down $1.21 during trading on Tuesday, reaching $44.39. The company had a trading volume of 11,862 shares, compared to its average volume of 27,324. The firm’s 50-day simple moving average is $42.19 and its 200 day simple moving average is $37.87. The company has a market cap of $77.68 million, a price-to-earnings ratio of 38.49 and a beta of 1.71. Pinnacle Focused Opportunities ETF has a 12-month low of $24.93 and a 12-month high of $47.49.

Hedge Funds Weigh In On Pinnacle Focused Opportunities ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in Pinnacle Focused Opportunities ETF during the 4th quarter valued at about $78,000. Citadel Advisors LLC purchased a new position in Pinnacle Focused Opportunities ETF during the 3rd quarter valued at about $621,000. OLD Mission Capital LLC grew its stake in Pinnacle Focused Opportunities ETF by 126.5% during the 4th quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock valued at $842,000 after acquiring an additional 14,991 shares in the last quarter. Finally, Magnolia Capital Advisors LLC grew its stake in Pinnacle Focused Opportunities ETF by 4.2% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock valued at $5,906,000 after acquiring an additional 7,461 shares in the last quarter.

About Pinnacle Focused Opportunities ETF

The Pinnacle Focused Opportunities ETF (FCUS) is an exchange-traded fund that is based on the EQM Pinnacle Focused Equity index. The fund is an actively managed fund that toggles between large-cap equities and Treasurys, or a combination of both, based on a proprietary model that identifies positive and negative market signals in the US equity market. FCUS was launched on Dec 29, 2022 and is managed by Pinnacle.