Inspire Faithward Mid Cap Momentum ETF (NYSEARCA:GLRY) Shares Down 1.2% – Should You Sell?

On December 29, 2024, shares of the Inspire Faithward Mid Cap Momentum ETF (NYSEARCA:GLRY) experienced a decline of 1.2%. The stock hit a low of $31.10 and eventually last traded at $31.24. During midday trading, a total of 3,927 shares changed hands, which is a significant decrease of 66% compared to the average trading volume of 11,711 shares. The previous day’s closing price for the stock was $31.63.

Current Performance of Inspire Faithward ETF

The ETF’s performance indicators show that its 50-day moving average is currently at $31.96, while the two-hundred-day moving average stands at $31.15. Inspire Faithward Mid Cap Momentum ETF has a market capitalization of $63.42 million, a price-to-earnings (PE) ratio of 14.54, and a beta of 0.82, indicating that it is less volatile than the overall market.

Hedge Fund Activities Involving GLRY

Recent trading activities by large investors have influenced the ETF’s performance. Commonwealth Equity Services LLC increased its holdings in Inspire Faithward Mid Cap Momentum ETF by 9.1% during the second quarter, totaling 14,072 shares valued at $424,000 after acquiring an additional 1,169 shares. Similarly, Synergy Asset Management LLC expanded its stake by 21.2%, now owning 11,036 shares worth $332,000 after adding 1,933 shares. PFG Advisors also invested in this ETF during the second quarter with an acquisition of a stake valued at approximately $1,515,000. Inspire Advisors LLC raised its investment by 22.1%, totaling 36,935 shares valued at $1,112,000 after adding 6,678 shares. Lastly, CWM LLC entered with a new investment approximately valued at $764,000 in the third quarter.

Overview of Inspire Faithward Mid Cap Momentum ETF

The Inspire Faithward Mid Cap Momentum ESG ETF (GLRY) aims to invest primarily in mid-cap equities. Managed by Inspire, this ETF seeks to maximize growth while outperforming its benchmark by strategically selecting US mid-cap stocks that align with biblical values. It was launched on December 7, 2020, and has focused on a unique investment strategy.

Future Considerations

Investors considering the Inspire Faithward Mid Cap Momentum ETF should evaluate recent performance trends and hedge fund activities. The recent decrease in shares raises questions about potential selling strategies, especially in light of current market conditions.

Inspire, ETFs, Stocks