Inspire 500 ETF (NYSEARCA:PTL) Shares Shorted: Short Interest Up 96.4% in October

Inspire 500 ETF (NYSEARCA:PTL) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 880 shares, a growth of 96.4% from the October 15th total of 448 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 19,200 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in Inspire 500 ETF by 233.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 23,454 shares of the company’s stock valued at $5,877,000 after acquiring an additional 16,417 shares during the period. RMG Wealth Management LLC acquired a new stake in Inspire 500 ETF during the 1st quarter worth approximately $823,000. Harbour Investments Inc. acquired a new stake in Inspire 500 ETF during the 3rd quarter worth approximately $90,000. Root Financial Partners LLC purchased a new position in shares of Inspire 500 ETF in the 3rd quarter valued at approximately $95,000. Finally, Peoples Financial Services CORP. purchased a new position in shares of Inspire 500 ETF in the 3rd quarter valued at approximately $53,000.

Inspire 500 ETF Price Performance

Shares of PTL traded down $2.83 during mid-day trading on Friday, reaching $270.18. 7,531 shares of the company’s stock were exchanged, compared to its average volume of 24,333. The business’s fifty day simple moving average is $273.03 and its 200-day simple moving average is $272.95. The stock has a market capitalization of $869.98 million, a PE ratio of 24.15 and a beta of 0.99. Inspire 500 ETF has a 52-week low of $237.41 and a 52-week high of $293.22.

Inspire 500 ETF Cuts Dividend

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

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.