Short Interest in Inspire Small/Mid Cap ETF (NYSEARCA:ISMD) Drops By 35.7%

Inspire Small/Mid Cap ETF (NYSEARCA:ISMD) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 40,386 shares, a decline of 35.7% from the August 15th total of 62,788 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 39,835 shares, the days-to-cover ratio is presently 1.0 days.

Inspire Small/Mid Cap ETF Price Performance

Shares of NYSEARCA ISMD traded up $0.30 during mid-day trading on Thursday, hitting $47.54. The company’s stock had a trading volume of 16,401 shares, compared to its average volume of 37,116. Inspire Small/Mid Cap ETF has a one year low of $35.81 and a one year high of $51.58. The company’s fifty day simple moving average is $49.22 and its 200-day simple moving average is $46.13. The stock has a market cap of $285.72 million, a price-to-earnings ratio of 16.03 and a beta of 1.02.

Inspire Small/Mid Cap ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 26th were issued a dividend of $0.2232 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.89 dividend on an annualized basis and a yield of 1.9%. This is a boost from Inspire Small/Mid Cap ETF’s previous quarterly dividend of $0.11.

Institutional Trading of Inspire Small/Mid Cap ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc bought a new position in shares of Inspire Small/Mid Cap ETF in the 1st quarter worth $46,000. Continuum Advisory LLC bought a new stake in Inspire Small/Mid Cap ETF in the second quarter valued at about $75,000. Root Financial Partners LLC acquired a new position in Inspire Small/Mid Cap ETF in the first quarter valued at about $66,000. RMG Wealth Management LLC acquired a new position in Inspire Small/Mid Cap ETF in the first quarter valued at about $565,000. Finally, Cornerstone Financial Management LLC acquired a new position in Inspire Small/Mid Cap ETF in the fourth quarter valued at about $952,000.

About Inspire Small/Mid Cap ETF

The Inspire Small\u002FMid Cap Impact ESG ETF (ISMD) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of 500 small- and mid-cap US stocks that are screened for alignment with biblical values defined by the Issuer. ISMD was launched on Feb 28, 2017 and is managed by Inspire.