Inspire Corporate Bond ETF (NYSEARCA:IBD) Shares Shorted: Short Interest Down 74.2% in September

Inspire Corporate Bond ETF (NYSEARCA:IBD) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 40,609 shares, a decrease of 74.2% from the August 31st total of 157,142 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 78,045 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Inspire Corporate Bond ETF

Several institutional investors have recently added to or reduced their stakes in IBD. Sterling Investment Advisors Ltd. purchased a new position in shares of Inspire Corporate Bond ETF in the 2nd quarter valued at approximately $238,000. Continuum Advisory LLC acquired a new position in Inspire Corporate Bond ETF in the 2nd quarter valued at $56,000. RMG Wealth Management LLC purchased a new position in Inspire Corporate Bond ETF during the 1st quarter worth $432,000. Root Financial Partners LLC purchased a new position in Inspire Corporate Bond ETF during the 1st quarter worth $118,000. Finally, Vicus Capital lifted its stake 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 acquiring an additional 1,576 shares during the period.

Inspire Corporate Bond ETF Stock Down 0.6%

IBD stock traded down $0.14 on Friday, hitting $23.06. The company’s stock had a trading volume of 80,953 shares, compared to its average volume of 95,697. The firm has a 50 day moving average of $23.53 and a two-hundred day moving average of $23.73. Inspire Corporate Bond ETF has a 1 year low of $22.94 and a 1 year high of $24.78.

Inspire Corporate Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 25th will be paid a dividend of $0.0820 per share. This represents a $0.98 annualized dividend and a dividend yield of 4.3%. This is a negative change from Inspire Corporate Bond ETF’s previous monthly dividend of $0.0904. The ex-dividend date is Friday, September 25th.

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.