Parametric Equity Premium Income ETF (NYSEARCA:PAPI) Sees Large Drop in Short Interest

Parametric Equity Premium Income ETF (NYSEARCA:PAPI) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 8,829 shares, a drop of 71.7% from the April 30th total of 31,196 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 81,469 shares, the days-to-cover ratio is currently 0.1 days.

Parametric Equity Premium Income ETF Trading Down 1.0%

Shares of Parametric Equity Premium Income ETF stock traded down $0.26 on Friday, hitting $26.43. 40,324 shares of the company traded hands, compared to its average volume of 79,042. The firm’s 50-day simple moving average is $26.84 and its 200 day simple moving average is $26.85. The company has a market cap of $362.09 million, a P/E ratio of 15.71 and a beta of 0.26. Parametric Equity Premium Income ETF has a 12-month low of $24.75 and a 12-month high of $28.53.

Institutional Trading of Parametric Equity Premium Income ETF

Several institutional investors and hedge funds have recently made changes to their positions in PAPI. von Borstel & Associates Inc. purchased a new stake in shares of Parametric Equity Premium Income ETF during the 3rd quarter valued at $2,524,000. Janney Montgomery Scott LLC raised its position in shares of Parametric Equity Premium Income ETF by 103.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 72,156 shares of the company’s stock valued at $1,860,000 after buying an additional 36,746 shares in the last quarter. Finally, Wayfinding Financial LLC raised its position in shares of Parametric Equity Premium Income ETF by 0.9% during the 3rd quarter. Wayfinding Financial LLC now owns 98,053 shares of the company’s stock valued at $2,571,000 after buying an additional 837 shares in the last quarter.

Parametric Equity Premium Income ETF Company Profile

The Parametric Equity Premium Income ETF (PAPI) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed to invest in a broad equity portfolio of US dividend payers, while utilizing a laddered, naked call writing strategy on the S&P 500. The fund seeks to provide monthly income and capital appreciation. PAPI was launched on Oct 16, 2023 and is issued by Parametric.