Short Interest in Inspire Corporate Bond ETF (NYSEARCA:IBD) Grows By 5,864.8%

Inspire Corporate Bond ETF (NYSEARCA:IBD) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 37,161 shares, an increase of 5,864.8% from the April 15th total of 623 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 72,328 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBD. Root Financial Partners LLC purchased a new stake in Inspire Corporate Bond ETF during the first quarter valued at approximately $118,000. Vicus Capital boosted its holdings in shares of Inspire Corporate Bond ETF by 1.9% in the 1st quarter. Vicus Capital now owns 84,925 shares of the company’s stock worth $2,026,000 after purchasing an additional 1,576 shares during the period. AdvisorNet Financial Inc increased its position in shares of Inspire Corporate Bond ETF by 6,054.1% during the 1st quarter. AdvisorNet Financial Inc now owns 2,277 shares of the company’s stock valued at $54,000 after purchasing an additional 2,240 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Inspire Corporate Bond ETF by 15.8% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 75,819 shares of the company’s stock valued at $1,809,000 after purchasing an additional 10,344 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in Inspire Corporate Bond ETF by 14.3% during the 4th quarter. Advisory Services Network LLC now owns 8,634 shares of the company’s stock valued at $209,000 after buying an additional 1,077 shares during the period.

Inspire Corporate Bond ETF Price Performance

IBD stock traded up $0.03 during trading on Monday, hitting $23.87. 54,480 shares of the company’s stock traded hands, compared to its average volume of 118,538. Inspire Corporate Bond ETF has a 52 week low of $23.51 and a 52 week high of $24.85. The business has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $24.09.

Inspire Corporate Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 24th were issued a $0.0779 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, February 24th. This is a positive change from Inspire Corporate Bond ETF’s previous monthly dividend of $0.06.

About Inspire Corporate Bond ETF

The Inspire Corporate Bond Impact ESG ETF (IBD) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an equally weighted index of bonds issued by S&P 500-component companies that meet biblically responsible investing standards according to the Issuer. IBD was launched on Jul 10, 2017 and is managed by Inspire.