Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Sees Significant Growth in Short Interest

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 8,394 shares, a growth of 283.5% from the September 30th total of 2,189 shares. Based on an average trading volume of 16,129 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the company’s stock are sold short.

Pinnacle Focused Opportunities ETF Stock Performance

NYSEARCA:FCUS traded up $0.40 on Wednesday, hitting $39.79. The stock had a trading volume of 3,938 shares, compared to its average volume of 23,328. Pinnacle Focused Opportunities ETF has a 1 year low of $28.33 and a 1 year high of $47.49. The firm’s fifty day simple moving average is $39.80 and its two-hundred day simple moving average is $39.49. The stock has a market cap of $86.34 million, a P/E ratio of 38.49 and a beta of 1.69.

Hedge Funds Weigh In On Pinnacle Focused Opportunities ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCUS. Sigma Planning Corp bought a new position in Pinnacle Focused Opportunities ETF in the third quarter valued at $7,995,000. Signal Advisors Wealth LLC bought a new stake in Pinnacle Focused Opportunities ETF in the third quarter valued at approximately $827,000. Finally, Walker Asset Management LLC lifted its position in Pinnacle Focused Opportunities ETF by 71.6% in the second quarter. Walker Asset Management LLC now owns 39,942 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,662 shares during the last quarter.

Pinnacle Focused Opportunities ETF Company Profile

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.