Innovator Power Buffer Step-Up Strategy ETF (NYSEARCA:PSTP) Sees Significant Increase in Short Interest

Innovator Power Buffer Step-Up Strategy ETF (NYSEARCA:PSTP) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 19,033 shares, a growth of 96.5% from the May 31st total of 9,684 shares. Based on an average daily volume of 5,639 shares, the short-interest ratio is currently 3.4 days. Currently, 0.5% of the shares of the stock are short sold.

Institutional Trading of Innovator Power Buffer Step-Up Strategy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Innovator Power Buffer Step-Up Strategy ETF during the 3rd quarter worth approximately $49,000. Capital Investment Advisory Services LLC raised its position in Innovator Power Buffer Step-Up Strategy ETF by 30.2% during the fourth quarter. Capital Investment Advisory Services LLC now owns 2,296 shares of the company’s stock valued at $81,000 after purchasing an additional 532 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Innovator Power Buffer Step-Up Strategy ETF during the first quarter worth $238,000. JPMorgan Chase & Co. lifted its stake in Innovator Power Buffer Step-Up Strategy ETF by 2,234.3% during the third quarter. JPMorgan Chase & Co. now owns 7,680 shares of the company’s stock worth $267,000 after purchasing an additional 7,351 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Innovator Power Buffer Step-Up Strategy ETF in the 3rd quarter valued at $289,000.

Innovator Power Buffer Step-Up Strategy ETF Price Performance

PSTP stock remained flat at $36.78 during midday trading on Wednesday. The company had a trading volume of 1,526 shares, compared to its average volume of 11,992. Innovator Power Buffer Step-Up Strategy ETF has a fifty-two week low of $33.12 and a fifty-two week high of $37.01. The company’s fifty day simple moving average is $36.43 and its 200 day simple moving average is $35.69. The stock has a market capitalization of $130.57 million, a P/E ratio of 24.87 and a beta of 0.52.

About Innovator Power Buffer Step-Up Strategy ETF

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