Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS – Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 2,925 shares, a drop of 87.0% from the April 15th total of 22,527 shares. Based on an average trading volume of 27,824 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the company’s shares are sold short.
Pinnacle Focused Opportunities ETF Stock Down 4.7%
Shares of FCUS stock traded down $2.15 on Tuesday, reaching $43.53. 6,462 shares of the stock were exchanged, compared to its average volume of 26,651. The firm has a 50 day moving average of $38.23 and a two-hundred day moving average of $35.83. Pinnacle Focused Opportunities ETF has a 1-year low of $23.99 and a 1-year high of $45.83. The stock has a market cap of $76.18 million, a P/E ratio of 38.49 and a beta of 1.71.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Magnolia Capital Advisors LLC grew its position in Pinnacle Focused Opportunities ETF by 4.2% in the third quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock valued at $5,906,000 after acquiring an additional 7,461 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Pinnacle Focused Opportunities ETF during the 3rd quarter worth $621,000. Hollencrest Capital Management acquired a new position in Pinnacle Focused Opportunities ETF in the 4th quarter worth $78,000. Finally, OLD Mission Capital LLC lifted its holdings in Pinnacle Focused Opportunities ETF by 126.5% in the 4th quarter. OLD Mission Capital LLC now owns 26,844 shares of the company’s stock worth $842,000 after buying an additional 14,991 shares in the last quarter.
About Pinnacle Focused Opportunities ETF
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.
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