Innovator Power Buffer Step-Up Strategy ETF (NYSEARCA:PSTP) Short Interest Up 394.2% in July

Innovator Power Buffer Step-Up Strategy ETF (NYSEARCA:PSTP) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 17,377 shares, a growth of 394.2% from the June 30th total of 3,516 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 10,507 shares, the days-to-cover ratio is currently 1.7 days.

Innovator Power Buffer Step-Up Strategy ETF Price Performance

NYSEARCA:PSTP traded up $0.15 during midday trading on Monday, reaching $36.81. 440 shares of the company traded hands, compared to its average volume of 11,621. Innovator Power Buffer Step-Up Strategy ETF has a twelve month low of $33.12 and a twelve month high of $37.03. The firm has a market capitalization of $132.52 million, a price-to-earnings ratio of 24.87 and a beta of 0.52. The company has a fifty day moving average price of $36.68 and a 200 day moving average price of $35.88.

Institutional Investors Weigh In On Innovator Power Buffer Step-Up Strategy ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position in shares of Innovator Power Buffer Step-Up Strategy ETF by 6.6% during the first quarter. Cetera Investment Advisers now owns 133,520 shares of the company’s stock worth $4,602,000 after acquiring an additional 8,324 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Innovator Power Buffer Step-Up Strategy ETF by 10.6% in the 1st quarter. Kestra Advisory Services LLC now owns 31,273 shares of the company’s stock valued at $1,078,000 after purchasing an additional 2,985 shares during the last quarter. Addison Capital Co acquired a new position in Innovator Power Buffer Step-Up Strategy ETF during the 1st quarter valued at about $917,000. Evolution Wealth Management Inc. boosted its stake in Innovator Power Buffer Step-Up Strategy ETF by 2.6% during the 1st quarter. Evolution Wealth Management Inc. now owns 43,392 shares of the company’s stock valued at $1,496,000 after purchasing an additional 1,091 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in Innovator Power Buffer Step-Up Strategy ETF by 5.6% during the 4th quarter. Sunbelt Securities Inc. now owns 360,494 shares of the company’s stock valued at $12,743,000 after purchasing an additional 19,194 shares during the period.

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.