Short Interest in Inspire Faithward Mid Cap Momentum ETF (NYSEARCA:GLRY) Drops By 38.9%

Inspire Faithward Mid Cap Momentum ETF (NYSEARCA:GLRY) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 17,533 shares, a drop of 38.9% from the April 30th total of 28,709 shares. Based on an average daily volume of 22,056 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Inspire Faithward Mid Cap Momentum ETF

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in Inspire Faithward Mid Cap Momentum ETF during the 3rd quarter valued at $35,000. Inspire Investing LLC bought a new position in shares of Inspire Faithward Mid Cap Momentum ETF in the fourth quarter worth $40,000. EverSource Wealth Advisors LLC increased its position in shares of Inspire Faithward Mid Cap Momentum ETF by 224.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,598 shares of the company’s stock worth $59,000 after purchasing an additional 1,106 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Inspire Faithward Mid Cap Momentum ETF by 22.2% in the first quarter. Geneos Wealth Management Inc. now owns 2,449 shares of the company’s stock worth $71,000 after purchasing an additional 445 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in Inspire Faithward Mid Cap Momentum ETF in the third quarter valued at about $109,000. Institutional investors and hedge funds own 72.93% of the company’s stock.

Inspire Faithward Mid Cap Momentum ETF Price Performance

Shares of Inspire Faithward Mid Cap Momentum ETF stock opened at $41.76 on Friday. The business has a fifty day simple moving average of $40.26 and a two-hundred day simple moving average of $38.43. Inspire Faithward Mid Cap Momentum ETF has a 1 year low of $31.95 and a 1 year high of $42.59. The company has a market capitalization of $158.69 million, a price-to-earnings ratio of 18.98 and a beta of 1.03.

About Inspire Faithward Mid Cap Momentum ETF

The Inspire Faithward Mid Cap Momentum ESG ETF (GLRY) is an exchange-traded fund that mostly invests in mid cap equity. The fund seeks to maximize growth and outperform its benchmark by actively selecting US mid-cap stocks that are screened for their alignment in biblical values. GLRY was launched on Dec 7, 2020 and is managed by Inspire.