Short Interest in Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Increases By 109.4%

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 8,758 shares, a growth of 109.4% from the July 15th total of 4,183 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 26,042 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Pinnacle Focused Opportunities ETF

Several hedge funds have recently bought and sold shares of FCUS. Citadel Advisors LLC acquired a new position in shares of Pinnacle Focused Opportunities ETF in the third quarter worth $621,000. Walker Asset Management LLC boosted its stake in shares of Pinnacle Focused Opportunities ETF by 71.6% during the second quarter. Walker Asset Management LLC now owns 39,942 shares of the company’s stock valued at $1,791,000 after acquiring an additional 16,662 shares during the last quarter. OLD Mission Capital LLC raised its stake in Pinnacle Focused Opportunities ETF by 126.5% in the 4th quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock valued at $842,000 after purchasing an additional 14,991 shares during the last quarter. Magnolia Capital Advisors LLC raised its stake in Pinnacle Focused Opportunities ETF by 5.8% in the 4th quarter. Magnolia Capital Advisors LLC now owns 196,650 shares of the company’s stock valued at $6,171,000 after purchasing an additional 10,786 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in Pinnacle Focused Opportunities ETF in the 4th quarter valued at about $78,000.

Pinnacle Focused Opportunities ETF Stock Up 1.8%

Shares of FCUS traded up $0.72 during mid-day trading on Friday, reaching $39.79. 14,071 shares of the company’s stock were exchanged, compared to its average volume of 25,698. Pinnacle Focused Opportunities ETF has a 52-week low of $25.51 and a 52-week high of $47.49. The company has a market cap of $89.53 million, a price-to-earnings ratio of 38.49 and a beta of 1.76. The company has a 50-day simple moving average of $40.16 and a two-hundred day simple moving average of $39.68.

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.