Short Interest in Inspire Small/Mid Cap ETF (NYSEARCA:ISMD) Drops By 35.7%

Inspire Small/Mid Cap ETF (NYSEARCA:ISMD) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 40,386 shares, a decline of 35.7% from the August 15th total of 62,788 shares. Based on an average daily volume of 39,835 shares, the short-interest ratio is currently 1.0 days. Currently, 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Inspire Small/Mid Cap ETF

Several hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC bought a new stake in Inspire Small/Mid Cap ETF during the second quarter worth about $75,000. EverSource Wealth Advisors LLC grew its stake in Inspire Small/Mid Cap ETF by 6.8% in the first quarter. EverSource Wealth Advisors LLC now owns 35,546 shares of the company’s stock valued at $1,421,000 after purchasing an additional 2,254 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of Inspire Small/Mid Cap ETF during the 1st quarter worth approximately $565,000. Root Financial Partners LLC acquired a new position in shares of Inspire Small/Mid Cap ETF during the 1st quarter worth approximately $66,000. Finally, AdvisorNet Financial Inc acquired a new position in shares of Inspire Small/Mid Cap ETF during the 1st quarter worth approximately $46,000.

Inspire Small/Mid Cap ETF Trading Up 0.6%

Shares of ISMD stock traded up $0.30 on Thursday, hitting $47.54. 16,401 shares of the stock were exchanged, compared to its average volume of 37,116. The firm has a market capitalization of $285.72 million, a P/E ratio of 16.03 and a beta of 1.02. Inspire Small/Mid Cap ETF has a fifty-two week low of $35.81 and a fifty-two week high of $51.58. The business has a 50-day moving average of $49.22 and a 200 day moving average of $46.13.

Inspire Small/Mid Cap ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 26th were paid a dividend of $0.2232 per share. The ex-dividend date was Friday, June 26th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Inspire Small/Mid Cap ETF’s previous quarterly dividend of $0.11.

Inspire Small/Mid Cap ETF Company Profile

The Inspire Small\u002FMid Cap Impact ESG ETF (ISMD) is an exchange-traded fund that mostly invests in extended market equity. The fund tracks an equal-weighted index of 500 small- and mid-cap US stocks that are screened for alignment with biblical values defined by the Issuer. ISMD was launched on Feb 28, 2017 and is managed by Inspire.