Short Interest in Inspire 500 ETF (NYSEARCA:PTL) Drops By 73.9%

Inspire 500 ETF (NYSEARCA:PTL) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 2,990 shares, a decline of 73.9% from the January 15th total of 11,471 shares. Based on an average daily volume of 12,360 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 12,360 shares, the short-interest ratio is currently 0.2 days.

Inspire 500 ETF Stock Performance

NYSEARCA PTL traded up $2.27 during trading hours on Friday, reaching $261.16. 13,201 shares of the company’s stock were exchanged, compared to its average volume of 19,070. The company has a market capitalization of $665.96 million, a price-to-earnings ratio of 25.14 and a beta of 1.05. The company’s 50-day moving average is $255.09 and its two-hundred day moving average is $249.24. Inspire 500 ETF has a one year low of $177.91 and a one year high of $265.34.

Inspire 500 ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 17th were given a dividend of $0.7576 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.03 annualized dividend and a dividend yield of 1.2%.

Institutional Investors Weigh In On Inspire 500 ETF

Several institutional investors have recently added to or reduced their stakes in PTL. United Capital Financial Advisors LLC boosted its stake in Inspire 500 ETF by 22.5% in the 3rd quarter. United Capital Financial Advisors LLC now owns 27,106 shares of the company’s stock worth $6,756,000 after purchasing an additional 4,972 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Inspire 500 ETF by 24.3% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 17,946 shares of the company’s stock valued at $4,454,000 after purchasing an additional 3,510 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Inspire 500 ETF by 68.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 15,741 shares of the company’s stock valued at $3,907,000 after purchasing an additional 6,411 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Inspire 500 ETF by 2,404.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,037 shares of the company’s stock worth $1,747,000 after buying an additional 6,756 shares during the period. Finally, Fiduciary Alliance LLC grew its holdings in shares of Inspire 500 ETF by 217.1% during the fourth quarter. Fiduciary Alliance LLC now owns 4,515 shares of the company’s stock worth $1,121,000 after buying an additional 3,091 shares in the last quarter.

About Inspire 500 ETF

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.