Short Interest in Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Drops By 48.1%

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 10,462 shares, a decrease of 48.1% from the May 31st total of 20,145 shares. Based on an average daily volume of 29,142 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Pinnacle Focused Opportunities ETF during the fourth quarter worth approximately $78,000. Magnolia Capital Advisors LLC lifted its stake 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 buying an additional 7,461 shares during the period. OLD Mission Capital LLC boosted its holdings in shares of Pinnacle Focused Opportunities ETF by 126.5% during 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. Finally, Citadel Advisors LLC acquired a new stake in shares of Pinnacle Focused Opportunities ETF during the 3rd quarter worth approximately $621,000.

Pinnacle Focused Opportunities ETF Price Performance

NYSEARCA FCUS traded down $1.74 during mid-day trading on Wednesday, reaching $43.10. 15,740 shares of the stock were exchanged, compared to its average volume of 26,639. Pinnacle Focused Opportunities ETF has a one year low of $25.27 and a one year high of $47.49. The stock has a 50 day simple moving average of $43.71 and a 200-day simple moving average of $38.87. The stock has a market cap of $75.42 million, a P/E ratio of 38.49 and a beta of 1.71.

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.