Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Sees Significant Growth in Short Interest
by Renee Jackson · The Cerbat GemPinnacle Focused Opportunities ETF (NYSEARCA:FCUS – Get Free Report) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 22,527 shares, an increase of 276.5% from the March 31st total of 5,983 shares. Based on an average daily trading volume, of 23,260 shares, the short-interest ratio is presently 1.0 days. Currently, 1.3% of the company’s stock are short sold.
Pinnacle Focused Opportunities ETF Stock Performance
Shares of NYSEARCA:FCUS traded up $0.11 during midday trading on Friday, hitting $40.12. The company’s stock had a trading volume of 24,830 shares, compared to its average volume of 25,923. The stock has a market capitalization of $68.20 million, a price-to-earnings ratio of 38.49 and a beta of 1.76. The stock’s 50 day simple moving average is $37.60 and its 200 day simple moving average is $35.21. Pinnacle Focused Opportunities ETF has a fifty-two week low of $22.34 and a fifty-two week high of $42.46.
Institutional Investors Weigh In On Pinnacle Focused Opportunities ETF
Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Pinnacle Focused Opportunities ETF in the fourth quarter valued at approximately $78,000. Citadel Advisors LLC bought a new position in shares of Pinnacle Focused Opportunities ETF in the third quarter valued at approximately $621,000. OLD Mission Capital LLC raised its position in Pinnacle Focused Opportunities ETF by 126.5% in the 4th quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock worth $842,000 after purchasing an additional 14,991 shares during the last quarter. Finally, Magnolia Capital Advisors LLC raised its position in Pinnacle Focused Opportunities ETF by 4.2% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock worth $5,906,000 after purchasing an additional 7,461 shares during the last quarter.
Pinnacle Focused Opportunities ETF Company Profile
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.