Inspire 500 ETF (NYSEARCA:PTL) Stock Short Interest Falls 86.0%

Inspire 500 ETF (NYSEARCA:PTL) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 448 shares, a decrease of 86.0% from the September 30th total of 3,194 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 20,107 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peoples Financial Services CORP. bought a new position in Inspire 500 ETF during the 3rd quarter worth $53,000. NewEdge Advisors LLC bought a new stake in Inspire 500 ETF in the second quarter valued at $92,000. Root Financial Partners LLC acquired a new position in shares of Inspire 500 ETF during the first quarter valued at $93,000. RMG Wealth Management LLC acquired a new position in shares of Inspire 500 ETF during the first quarter valued at $823,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Inspire 500 ETF by 5.9% during the third quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock valued at $1,011,000 after acquiring an additional 208 shares during the period.

Inspire 500 ETF Stock Up 0.7%

Shares of NYSEARCA:PTL traded up $1.87 during trading on Wednesday, hitting $275.01. 34,035 shares of the company traded hands, compared to its average volume of 25,034. The stock has a market capitalization of $893.78 million, a price-to-earnings ratio of 25.14 and a beta of 0.99. The business’s fifty day moving average is $276.73 and its 200-day moving average is $272.23. Inspire 500 ETF has a one year low of $237.41 and a one year high of $293.22.

Inspire 500 ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 25th were issued a $0.0832 dividend. This is a negative change from Inspire 500 ETF’s previous quarterly dividend of $0.8158. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.33 annualized dividend and a dividend yield of 0.1%.

About Inspire 500 ETF

The Inspire 500 ETF (PTL) is an exchange-traded fund that is based on the Inspire 500 index, a market-cap-weighted index of 500 large-cap US stocks, selected based on the issuers proprietary criteria of biblical values.