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

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 8,758 shares, an increase of 109.4% from the July 15th total of 4,183 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 26,042 shares, the short-interest ratio is currently 0.3 days.

Pinnacle Focused Opportunities ETF Stock Performance

Shares of FCUS traded up $0.72 during trading hours on Friday, hitting $39.79. The stock had a trading volume of 14,071 shares, compared to its average volume of 25,698. Pinnacle Focused Opportunities ETF has a 12-month low of $25.51 and a 12-month high of $47.49. The firm has a market cap of $89.53 million, a P/E ratio of 38.49 and a beta of 1.76. The company’s fifty day simple moving average is $40.16 and its 200 day simple moving average is $39.68.

Institutional Investors Weigh In On Pinnacle Focused Opportunities ETF

Several hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in shares of Pinnacle Focused Opportunities ETF in the third quarter worth about $621,000. Hollencrest Capital Management purchased a new position in shares of Pinnacle Focused Opportunities ETF during the 4th quarter valued at approximately $78,000. Magnolia Capital Advisors LLC boosted its stake in shares of Pinnacle Focused Opportunities ETF by 5.8% during the 4th quarter. Magnolia Capital Advisors LLC now owns 196,650 shares of the company’s stock valued at $6,171,000 after buying an additional 10,786 shares during the last quarter. OLD Mission Capital LLC grew its position in shares of Pinnacle Focused Opportunities ETF by 126.5% during the fourth quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock worth $842,000 after buying an additional 14,991 shares in the last quarter. Finally, Walker Asset Management LLC grew its position in shares of Pinnacle Focused Opportunities ETF by 71.6% during the second quarter. Walker Asset Management LLC now owns 39,942 shares of the company’s stock worth $1,791,000 after buying an additional 16,662 shares in the last quarter.

About Pinnacle Focused Opportunities ETF

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.