Inspire 500 ETF (NYSEARCA:PTL) Sees Large Drop in Short Interest

Inspire 500 ETF (NYSEARCA:PTL) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 5,094 shares, a drop of 64.5% from the August 31st total of 14,369 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,060 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Inspire 500 ETF

Several large investors have recently modified their holdings of the business. NewEdge Advisors LLC bought a new stake in Inspire 500 ETF during the 2nd quarter valued at approximately $92,000. AdvisorNet Financial Inc raised its position in shares of Inspire 500 ETF by 1,173.1% in the 1st quarter. AdvisorNet Financial Inc now owns 331 shares of the company’s stock worth $83,000 after acquiring an additional 305 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Inspire 500 ETF in the 1st quarter worth approximately $93,000. RMG Wealth Management LLC purchased a new position in shares of Inspire 500 ETF in the 1st quarter valued at approximately $823,000. Finally, Vicus Capital purchased a new position in shares of Inspire 500 ETF in the 1st quarter valued at approximately $1,367,000.

Inspire 500 ETF Stock Down 0.6%

NYSEARCA:PTL traded down $1.53 during midday trading on Monday, hitting $273.70. The company had a trading volume of 9,803 shares, compared to its average volume of 25,579. The stock’s fifty day moving average price is $281.16 and its 200-day moving average price is $276.02. The company has a market capitalization of $875.84 million, a PE ratio of 25.14 and a beta of 0.98. Inspire 500 ETF has a 52-week low of $237.41 and a 52-week high of $293.22.

Inspire 500 ETF Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 25th will be given a dividend of $0.0832 per share. This represents a $0.33 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 25th. This is a decrease from Inspire 500 ETF’s previous quarterly dividend of $0.8158.

Inspire 500 ETF Company Profile

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.