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

Pinnacle Focused Opportunities ETF (NYSEARCA:FCUS) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 20,145 shares, a decline of 44.5% from the May 14th total of 36,280 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 32,085 shares, the days-to-cover ratio is presently 0.6 days.

Pinnacle Focused Opportunities ETF Stock Up 1.5%

FCUS traded up $0.68 during midday trading on Monday, hitting $45.60. 28,752 shares of the company were exchanged, compared to its average volume of 27,462. The firm has a market capitalization of $79.80 million, a P/E ratio of 38.49 and a beta of 1.71. Pinnacle Focused Opportunities ETF has a 1-year low of $24.93 and a 1-year high of $47.49. The firm’s 50 day moving average price is $42.19 and its 200-day moving average price is $37.87.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FCUS. Magnolia Capital Advisors LLC raised its position in shares of Pinnacle Focused Opportunities ETF by 4.2% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 185,864 shares of the company’s stock worth $5,906,000 after acquiring an additional 7,461 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Pinnacle Focused Opportunities ETF in the 3rd quarter worth about $621,000. Hollencrest Capital Management bought a new position in shares of Pinnacle Focused Opportunities ETF in the 4th quarter worth about $78,000. Finally, OLD Mission Capital LLC raised its position in shares of 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 acquiring 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.