Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) Sees Significant Decrease in Short Interest

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) saw a significant drop in short interest in October. As of October 30th, there was short interest totaling 1,229 shares, a drop of 85.4% from the October 15th total of 8,394 shares. Based on an average daily trading volume, of 25,348 shares, the short-interest ratio is currently 0.0 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Beam Wealth Advisors Inc. acquired a new stake in shares of Pinnacle Focused Opportunities ETF during the third quarter worth about $442,000. Commonwealth Equity Services LLC purchased a new stake in shares of Pinnacle Focused Opportunities ETF in the 3rd quarter valued at about $460,000. Signal Advisors Wealth LLC acquired a new stake in shares of Pinnacle Focused Opportunities ETF in the 3rd quarter valued at about $827,000. Walker Asset Management LLC boosted its position in shares of Pinnacle Focused Opportunities ETF by 71.6% in the 2nd quarter. Walker Asset Management LLC now owns 39,942 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,662 shares during the period. Finally, Sigma Planning Corp acquired a new stake in shares of Pinnacle Focused Opportunities ETF in the 3rd quarter valued at about $7,995,000.

Pinnacle Focused Opportunities ETF Stock Performance

NYSEARCA FCUS traded down $0.20 during trading on Friday, reaching $33.22. 2,134 shares of the company’s stock were exchanged, compared to its average volume of 23,643. The stock has a market cap of $76.41 million, a P/E ratio of 17.66 and a beta of 1.74. The company has a 50 day moving average price of $39.22 and a two-hundred day moving average price of $39.40. Pinnacle Focused Opportunities ETF has a 1 year low of $28.33 and a 1 year high of $47.49.

Pinnacle Focused Opportunities ETF Company Profile

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.