Inspire 500 ETF (NYSEARCA:PTL) Stock Short Interest Declines 64.5%

Inspire 500 ETF (NYSEARCA:PTL) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 5,094 shares, a decrease of 64.5% from the August 31st total of 14,369 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 11,060 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Inspire 500 ETF

A number of large investors have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in shares of Inspire 500 ETF during the 2nd quarter worth approximately $92,000. EverSource Wealth Advisors LLC raised its position in Inspire 500 ETF by 233.3% during the first quarter. EverSource Wealth Advisors LLC now owns 23,454 shares of the company’s stock valued at $5,877,000 after purchasing an additional 16,417 shares in the last quarter. RMG Wealth Management LLC acquired a new position in Inspire 500 ETF during the first quarter valued at approximately $823,000. Root Financial Partners LLC bought a new stake in Inspire 500 ETF during the first quarter worth $93,000. Finally, Vicus Capital bought a new stake in Inspire 500 ETF during the first quarter worth $1,367,000.

Inspire 500 ETF Stock Up 0.3%

Shares of PTL traded up $0.73 during trading hours on Friday, hitting $275.23. 37,562 shares of the company were exchanged, compared to its average volume of 25,662. The company has a market cap of $880.74 million, a price-to-earnings ratio of 25.14 and a beta of 0.98. Inspire 500 ETF has a fifty-two week low of $237.41 and a fifty-two week high of $293.22. The firm’s fifty day moving average is $281.23 and its 200 day moving average is $275.79.

Inspire 500 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 25th will be given a dividend of $0.0832 per share. This is a negative change from Inspire 500 ETF’s previous quarterly dividend of $0.8158. This represents a $0.33 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 25th.

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.