Short Interest in Inspire 500 ETF (NYSEARCA:PTL) Increases By 363.3%

by · The Markets Daily

Inspire 500 ETF (NYSEARCA:PTL – Get Free Report) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 26,646 shares, a growth of 363.3% from the June 15th total of 5,751 shares. Based on an average trading volume of 59,181 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PTL. Fiduciary Alliance LLC increased its holdings in shares of Inspire 500 ETF by 217.1% in the fourth quarter. Fiduciary Alliance LLC now owns 4,515 shares of the company’s stock worth $1,121,000 after purchasing an additional 3,091 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Inspire 500 ETF by 26.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 22,738 shares of the company’s stock valued at $5,697,000 after buying an additional 4,792 shares during the period. EverSource Wealth Advisors LLC boosted its stake in 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 valued at $1,747,000 after buying an additional 6,756 shares during the period. Vicus Capital purchased a new position in Inspire 500 ETF during the first quarter worth about $1,367,000. Finally, RMG Wealth Management LLC purchased a new position in Inspire 500 ETF during the first quarter worth about $823,000.

Inspire 500 ETF Stock Up 0.0%

NYSEARCA:PTL traded up $0.14 during mid-day trading on Friday, hitting $283.83. 13,348 shares of the stock traded hands, compared to its average volume of 29,480. The business’s 50-day moving average price is $281.81 and its 200 day moving average price is $266.68. The company has a market cap of $885.55 million, a PE ratio of 25.14 and a beta of 0.97. Inspire 500 ETF has a 12-month low of $230.00 and a 12-month high of $293.22.

About Inspire 500 ETF

(Get Free Report)

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.

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