Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Sees Significant Growth in Short Interest

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 6,736 shares, an increase of 155.8% from the February 12th total of 2,633 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 21,734 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 21,734 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the company are short sold.

Pinnacle Focused Opportunities ETF Trading Up 0.2%

Shares of FCUS traded up $0.09 during midday trading on Wednesday, reaching $36.62. The stock had a trading volume of 17,319 shares, compared to its average volume of 22,954. The firm has a market cap of $56.76 million, a PE ratio of 38.49 and a beta of 1.80. The firm has a 50 day simple moving average of $36.69 and a 200-day simple moving average of $33.49. Pinnacle Focused Opportunities ETF has a one year low of $19.52 and a one year high of $42.46.

Hedge Funds Weigh In On Pinnacle Focused Opportunities ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of FCUS. Hollencrest Capital Management acquired a new position in Pinnacle Focused Opportunities ETF during the fourth quarter worth approximately $78,000. Citadel Advisors LLC acquired a new stake in shares of Pinnacle Focused Opportunities ETF in the third quarter valued at approximately $621,000. OLD Mission Capital LLC lifted its position in shares of Pinnacle Focused Opportunities ETF by 126.5% in the fourth quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock valued at $842,000 after buying an additional 14,991 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Pinnacle Focused Opportunities ETF by 4.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 110,410 shares of the company’s stock worth $3,508,000 after acquiring an additional 4,309 shares during the period. Finally, Magnolia Capital Advisors LLC boosted its stake in shares of Pinnacle Focused Opportunities ETF by 4.2% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock worth $5,906,000 after acquiring an additional 7,461 shares during the period.

About Pinnacle Focused Opportunities ETF

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.