Inspire 500 ETF (NYSEARCA:PTL) Stock Short Interest Declines 64.5%

Inspire 500 ETF (NYSEARCA:PTL) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 5,094 shares, a decrease of 64.5% from the August 31st total of 14,369 shares. Based on an average daily trading volume, of 11,060 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Inspire 500 ETF Trading Up 0.3%

PTL stock traded up $0.73 during trading hours on Friday, hitting $275.23. 37,562 shares of the stock were exchanged, compared to its average volume of 25,662. Inspire 500 ETF has a 12 month low of $237.41 and a 12 month high of $293.22. The firm has a market capitalization of $880.74 million, a P/E ratio of 25.14 and a beta of 0.98. The company has a 50-day simple moving average of $281.23 and a two-hundred day simple moving average of $275.79.

Inspire 500 ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 25th will be paid a $0.0832 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.1%. This is a drop from Inspire 500 ETF’s previous quarterly dividend of $0.8158. The ex-dividend date is Friday, September 25th.

Institutional Trading of Inspire 500 ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. AdvisorNet Financial Inc boosted its holdings in Inspire 500 ETF by 1,173.1% in the 1st quarter. AdvisorNet Financial Inc now owns 331 shares of the company’s stock valued at $83,000 after purchasing an additional 305 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Inspire 500 ETF in the second quarter valued at approximately $92,000. Root Financial Partners LLC bought a new stake in shares of Inspire 500 ETF in the first quarter valued at approximately $93,000. Fiduciary Alliance LLC grew its position in Inspire 500 ETF by 60.8% during the first quarter. Fiduciary Alliance LLC now owns 7,261 shares of the company’s stock worth $1,949,000 after buying an additional 2,746 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in Inspire 500 ETF during the first quarter worth approximately $823,000.

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.