Inspire Corporate Bond ETF (NYSEARCA:IBD) Stock Short Interest Drops 74.2%

Inspire Corporate Bond ETF (NYSEARCA:IBD) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 40,609 shares, a decline of 74.2% from the August 31st total of 157,142 shares. Based on an average trading volume of 78,045 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the company are sold short.

Inspire Corporate Bond ETF Price Performance

Shares of Inspire Corporate Bond ETF stock traded down $0.14 during trading hours on Friday, reaching $23.06. The company had a trading volume of 80,953 shares, compared to its average volume of 95,697. Inspire Corporate Bond ETF has a one year low of $22.94 and a one year high of $24.78. The business has a fifty day simple moving average of $23.53 and a 200 day simple moving average of $23.73.

Inspire Corporate Bond ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 25th will be issued a dividend of $0.0820 per share. This is a negative change from Inspire Corporate Bond ETF’s previous monthly dividend of $0.0904. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.98 dividend on an annualized basis and a yield of 4.3%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its position 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 buying an additional 2,240 shares during the period. Continuum Advisory LLC bought a new stake in Inspire Corporate Bond ETF during the 2nd quarter worth approximately $56,000. Root Financial Partners LLC bought a new stake in Inspire Corporate Bond ETF during the 1st quarter worth approximately $118,000. Sterling Investment Advisors Ltd. purchased a new stake in Inspire Corporate Bond ETF in the 2nd quarter worth approximately $238,000. Finally, RMG Wealth Management LLC purchased a new stake in Inspire Corporate Bond ETF in the 1st quarter worth approximately $432,000.

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.