Inspire Fidelis Multi Factor ETF (NYSEARCA:FDLS) Sees Large Decline in Short Interest

Inspire Fidelis Multi Factor ETF (NYSEARCA:FDLS) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 20,164 shares, a drop of 45.3% from the June 30th total of 36,860 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 53,046 shares, the short-interest ratio is presently 0.4 days.

Inspire Fidelis Multi Factor ETF Trading Down 1.5%

NYSEARCA:FDLS traded down $0.65 during midday trading on Wednesday, reaching $41.45. The company had a trading volume of 17,129 shares, compared to its average volume of 37,213. The firm has a market capitalization of $223.83 million, a price-to-earnings ratio of 16.55 and a beta of 1.05. The stock’s fifty day simple moving average is $41.47 and its 200-day simple moving average is $39.61. Inspire Fidelis Multi Factor ETF has a 12-month low of $31.27 and a 12-month high of $42.67.

Hedge Funds Weigh In On Inspire Fidelis Multi Factor ETF

Several hedge funds and other institutional investors have recently made changes to their positions in FDLS. Raymond James Financial Inc. acquired a new position in shares of Inspire Fidelis Multi Factor ETF during the second quarter worth about $58,000. EverSource Wealth Advisors LLC raised its holdings in Inspire Fidelis Multi Factor ETF by 39.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,294 shares of the company’s stock valued at $85,000 after acquiring an additional 647 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Inspire Fidelis Multi Factor ETF by 56.2% in the second quarter. Osaic Holdings Inc. now owns 2,451 shares of the company’s stock worth $78,000 after acquiring an additional 882 shares during the last quarter. Integrated Advisors Network LLC purchased a new position in Inspire Fidelis Multi Factor ETF in the fourth quarter worth approximately $200,000. Finally, Cetera Investment Advisers lifted its stake in Inspire Fidelis Multi Factor ETF by 22.9% in the fourth quarter. Cetera Investment Advisers now owns 7,088 shares of the company’s stock worth $253,000 after acquiring an additional 1,319 shares during the last quarter.

About Inspire Fidelis Multi Factor ETF

The Inspire Fidelis Multi Factor ETF (FDLS) is an exchange-traded fund that is based on the WI Fidelis Multi-Cap, Multi-Factor index. The fund tracks an equal-weighted index that provides exposure to 100 US-listed stocks of various sectors and market capitalizations. Selection is based on high quality, value, and momentum characteristics that include a Christian values component, as defined by the issuer. FDLS was launched on Aug 23, 2022 and is managed by Inspire.