Short Interest in Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Drops By 68.2%

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 1,395 shares, a drop of 68.2% from the December 31st total of 4,388 shares. Based on an average daily volume of 12,417 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 12,417 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Pinnacle Focused Opportunities ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in Pinnacle Focused Opportunities ETF in the third quarter valued at about $621,000. Magnolia Capital Advisors LLC boosted its holdings in Pinnacle Focused Opportunities ETF by 4.2% during the third quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock valued at $5,906,000 after purchasing an additional 7,461 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Pinnacle Focused Opportunities ETF by 4.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 110,410 shares of the company’s stock valued at $3,508,000 after purchasing an additional 4,309 shares during the period.

Pinnacle Focused Opportunities ETF Price Performance

Shares of FCUS traded up $0.64 on Wednesday, reaching $38.24. 6,770 shares of the stock traded hands, compared to its average volume of 21,320. The firm has a market cap of $54.30 million, a price-to-earnings ratio of 38.49 and a beta of 1.80. Pinnacle Focused Opportunities ETF has a 12 month low of $19.52 and a 12 month high of $38.89. The stock’s 50-day moving average price is $33.47 and its 200-day moving average price is $31.24.

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.