Inspire Corporate Bond ETF (NYSEARCA:IBD) Sees Large Drop in Short Interest

Inspire Corporate Bond ETF (NYSEARCA:IBD) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 23,547 shares, a decrease of 76.6% from the June 30th total of 100,839 shares. Based on an average daily trading volume, of 101,813 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc boosted its holdings in shares of Inspire Corporate Bond ETF by 6,054.1% during the first quarter. AdvisorNet Financial Inc now owns 2,277 shares of the company’s stock valued at $54,000 after acquiring an additional 2,240 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Inspire Corporate Bond ETF in the 1st quarter worth about $118,000. Advisory Services Network LLC increased its holdings in shares of Inspire Corporate Bond ETF by 14.3% in the 4th quarter. Advisory Services Network LLC now owns 8,634 shares of the company’s stock worth $209,000 after acquiring an additional 1,077 shares during the period. PVG Asset Management Corp lifted its position in Inspire Corporate Bond ETF by 20.7% in the 4th quarter. PVG Asset Management Corp now owns 11,071 shares of the company’s stock valued at $268,000 after purchasing an additional 1,900 shares during the last quarter. Finally, RMG Wealth Management LLC bought a new stake in Inspire Corporate Bond ETF in the 1st quarter valued at about $432,000.

Inspire Corporate Bond ETF Trading Down 0.0%

Shares of IBD opened at $23.57 on Friday. Inspire Corporate Bond ETF has a 52 week low of $22.94 and a 52 week high of $24.85. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $23.94.

About Inspire Corporate Bond ETF

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.