Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS – Get Free Report) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 20,145 shares, a drop of 44.5% from the May 14th total of 36,280 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 32,085 shares, the days-to-cover ratio is presently 0.6 days.
Pinnacle Focused Opportunities ETF Trading Up 1.7%
Shares of FCUS stock traded up $0.77 during trading hours on Friday, hitting $44.92. 97,711 shares of the company’s stock were exchanged, compared to its average volume of 27,450. The company has a market capitalization of $78.61 million, a PE ratio of 38.49 and a beta of 1.71. Pinnacle Focused Opportunities ETF has a 12-month low of $24.76 and a 12-month high of $47.49. The business’s 50 day simple moving average is $42.01 and its 200-day simple moving average is $37.72.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in shares of Pinnacle Focused Opportunities ETF during the fourth quarter worth approximately $78,000. Citadel Advisors LLC purchased a new position in shares of Pinnacle Focused Opportunities ETF during the third quarter worth approximately $621,000. OLD Mission Capital LLC increased its stake in shares of Pinnacle Focused Opportunities ETF by 126.5% in the fourth 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 during the period. Finally, Magnolia Capital Advisors LLC increased its stake in shares of 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 worth $5,906,000 after buying an additional 7,461 shares during the period.
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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