Goldman Sachs S&P 500 Core Premium Income ETF (NASDAQ:GPIX) Stock Breaks Below 200-Day Moving Average – Should You Sell?

Goldman Sachs S&P 500 Core Premium Income ETF (NASDAQ:GPIX)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $54.33 and traded as low as $53.17. Goldman Sachs S&P 500 Core Premium Income ETF shares last traded at $53.2090, with a volume of 2,391,770 shares changing hands.

Goldman Sachs S&P 500 Core Premium Income ETF Trading Down 4.1%

The company has a market cap of $6.13 billion, a price-to-earnings ratio of 25.98 and a beta of 0.83. The business has a fifty day moving average price of $55.81 and a two-hundred day moving average price of $54.33.

Goldman Sachs S&P 500 Core Premium Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 6th. Investors of record on Monday, November 2nd will be given a dividend of $0.3885 per share. The ex-dividend date of this dividend is Monday, November 2nd. This is a drop from Goldman Sachs S&P 500 Core Premium Income ETF’s previous monthly dividend of $0.3970. This represents a $4.66 dividend on an annualized basis and a yield of 8.8%.

Institutional Investors Weigh In On Goldman Sachs S&P 500 Core Premium Income ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF by 42.9% during the 3rd quarter. Fifth Third Bancorp now owns 10,808 shares of the company’s stock worth $603,000 after purchasing an additional 3,247 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Goldman Sachs S&P 500 Core Premium Income ETF by 11.9% during the 3rd quarter. Jacobi Capital Management LLC now owns 8,382 shares of the company’s stock valued at $468,000 after purchasing an additional 894 shares in the last quarter. Oak Barrel Wealth Advisory LLC acquired a new stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF in the 3rd quarter valued at $291,000. Cornerstone Wealth Management LLC lifted its stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF by 29.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,621 shares of the company’s stock valued at $1,430,000 after purchasing an additional 5,885 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF in the 3rd quarter valued at $281,000.

About Goldman Sachs S&P 500 Core Premium Income ETF

The Goldman Sachs S&P 500 Core Premium Income ETF (GPIX) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed ETF, primarily investing in stocks of companies in the S&P 500. Combining equity investments with a call strategy, the fund seeks to generate stable income while offering potential for capital growth GPIX was launched on Oct 24, 2023 and is issued by Goldman Sachs.