Innovator Buffer Step-Up Strategy ETF (NYSEARCA:BSTP) Sees Large Decrease in Short Interest

Innovator Buffer Step-Up Strategy ETF (NYSEARCA:BSTP) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 6,095 shares, a drop of 54.0% from the September 15th total of 13,260 shares. Based on an average daily volume of 4,521 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV grew its holdings in shares of Innovator Buffer Step-Up Strategy ETF by 1.5% during the first quarter. Nations Financial Group Inc. IA ADV now owns 75,524 shares of the company’s stock valued at $2,720,000 after buying an additional 1,122 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Innovator Buffer Step-Up Strategy ETF in the 1st quarter worth about $2,288,000. Citadel Advisors LLC raised its holdings in shares of Innovator Buffer Step-Up Strategy ETF by 3.8% in the 2nd quarter. Citadel Advisors LLC now owns 7,927 shares of the company’s stock worth $312,000 after acquiring an additional 291 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of Innovator Buffer Step-Up Strategy ETF by 25.8% in the 1st quarter. Kestra Advisory Services LLC now owns 5,842 shares of the company’s stock worth $210,000 after acquiring an additional 1,198 shares during the last quarter.

Innovator Buffer Step-Up Strategy ETF Stock Down 0.0%

BSTP stock traded down $0.01 during midday trading on Tuesday, reaching $40.67. 1,140 shares of the company’s stock traded hands, compared to its average volume of 4,645. The company has a market cap of $60.19 million, a price-to-earnings ratio of 23.53 and a beta of 0.69. The firm’s fifty day moving average price is $40.22 and its 200-day moving average price is $39.15. Innovator Buffer Step-Up Strategy ETF has a 52 week low of $35.22 and a 52 week high of $40.73.

About Innovator Buffer Step-Up Strategy ETF

The Innovator Buffer Step-Up Strategy ETF (BSTP) is an exchange-traded fund that is based on the SPDR S&P 500 ETF Trust index. The fund aims for exposure to the SPDR S&P 500 ETF Trust (SPY) with buffered losses and gains through the active use of FLEX options, rebalanced monthly. The fund intends to opportunistically reset its portfolio prior to the one-year expiration date of the options. BSTP was launched on Mar 8, 2022 and is managed by Innovator.