Inspire 500 ETF (NYSEARCA:PTL) Short Interest Up 98.6% in August

Inspire 500 ETF (NYSEARCA:PTL) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 10,399 shares, a growth of 98.6% from the July 30th total of 5,237 shares. Based on an average daily volume of 14,972 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the shares of the stock are short sold.

Inspire 500 ETF Trading Down 0.3%

Shares of Inspire 500 ETF stock traded down $0.81 during midday trading on Monday, reaching $281.75. The company had a trading volume of 6,540 shares, compared to its average volume of 26,111. The stock has a fifty day simple moving average of $283.22 and a 200 day simple moving average of $273.70. Inspire 500 ETF has a 1-year low of $237.41 and a 1-year high of $293.22. The company has a market capitalization of $879.06 million, a price-to-earnings ratio of 25.14 and a beta of 0.98.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in shares of Inspire 500 ETF by 1,173.1% during the first quarter. AdvisorNet Financial Inc now owns 331 shares of the company’s stock worth $83,000 after acquiring an additional 305 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Inspire 500 ETF in the first quarter worth about $93,000. Strategic Blueprint LLC raised its holdings in Inspire 500 ETF by 47.6% during the 4th quarter. Strategic Blueprint LLC now owns 1,216 shares of the company’s stock worth $302,000 after purchasing an additional 392 shares during the last quarter. Mosaic Family Wealth Partners LLC raised its holdings in Inspire 500 ETF by 2.6% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 2,602 shares of the company’s stock worth $646,000 after purchasing an additional 66 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new position in Inspire 500 ETF during the 1st quarter valued at about $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.