Short Interest in Inspire Corporate Bond ETF (NYSEARCA:IBD) Increases By 282.5%

Inspire Corporate Bond ETF (NYSEARCA:IBD) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 157,142 shares, a growth of 282.5% from the August 15th total of 41,086 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 89,332 shares, the days-to-cover ratio is currently 1.8 days.

Inspire Corporate Bond ETF Price Performance

Shares of IBD stock opened at $23.35 on Friday. Inspire Corporate Bond ETF has a 12-month low of $22.94 and a 12-month high of $24.78. The firm has a 50-day moving average price of $23.62 and a 200 day moving average price of $23.79.

Inspire Corporate Bond ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 26th were issued a dividend of $0.0904 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 4.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IBD. AdvisorNet Financial Inc increased its holdings in Inspire Corporate Bond ETF by 6,054.1% during the 1st quarter. AdvisorNet Financial Inc now owns 2,277 shares of the company’s stock valued at $54,000 after purchasing an additional 2,240 shares in the last quarter. Continuum Advisory LLC acquired a new position in Inspire Corporate Bond ETF in the second quarter worth $56,000. Root Financial Partners LLC bought a new stake in shares of Inspire Corporate Bond ETF during the first quarter worth $118,000. Advisory Services Network LLC grew its holdings in shares of Inspire Corporate Bond ETF by 14.3% during the fourth quarter. Advisory Services Network LLC now owns 8,634 shares of the company’s stock worth $209,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. acquired a new stake in shares of Inspire Corporate Bond ETF in the second quarter valued at $238,000.

Inspire Corporate Bond ETF Company Profile

The Inspire Corporate Bond Impact ESG ETF (IBD) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an equally weighted index of bonds issued by S&P 500-component companies that meet biblically responsible investing standards according to the Issuer. IBD was launched on Jul 10, 2017 and is managed by Inspire.