Inspire 500 ETF (NYSEARCA:PTL) Shares Shorted: Short Interest Down 86.0% in October

Inspire 500 ETF (NYSEARCA:PTL) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 448 shares, a decrease of 86.0% from the September 30th total of 3,194 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 20,107 shares, the short-interest ratio is currently 0.0 days.

Inspire 500 ETF Stock Up 0.7%

NYSEARCA:PTL traded up $1.91 during trading hours on Tuesday, hitting $272.12. 5,197 shares of the company’s stock traded hands, compared to its average volume of 24,954. The firm has a market cap of $884.40 million, a P/E ratio of 25.14 and a beta of 0.99. Inspire 500 ETF has a 52 week low of $237.41 and a 52 week high of $293.22. The business’s fifty day simple moving average is $277.48 and its two-hundred day simple moving average is $272.05.

Inspire 500 ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 25th were issued a dividend of $0.0832 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.33 annualized dividend and a dividend yield of 0.1%. This is a decrease from Inspire 500 ETF’s previous quarterly dividend of $0.8158.

Hedge Funds Weigh In On Inspire 500 ETF

A number of large investors have recently bought and sold shares of PTL. EverSource Wealth Advisors LLC grew its position in shares of Inspire 500 ETF by 233.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 23,454 shares of the company’s stock worth $5,877,000 after buying an additional 16,417 shares during the last quarter. Vicus Capital bought a new stake in shares of Inspire 500 ETF during the 1st quarter valued at about $1,367,000. IFP Advisors Inc boosted its stake in shares of Inspire 500 ETF by 11.8% during the 3rd quarter. IFP Advisors Inc now owns 4,022 shares of the company’s stock valued at $1,095,000 after purchasing an additional 426 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Inspire 500 ETF by 5.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,714 shares of the company’s stock valued at $1,011,000 after purchasing an additional 208 shares in the last quarter. Finally, RMG Wealth Management LLC purchased a new position in shares of Inspire 500 ETF during the first quarter valued at about $823,000.

Inspire 500 ETF Company Profile

The Inspire 500 ETF (PTL) is an exchange-traded fund that is based on the Inspire 500 index, a market-cap-weighted index of 500 large-cap US stocks, selected based on the issuers proprietary criteria of biblical values.