Innovator S&P Investment Grade Preferred ETF (BATS:EPRF) Trading Down 3.7% – Here’s What Happened

Innovator S&P Investment Grade Preferred ETF (BATS:EPRF)’s share price dropped 3.7% during mid-day trading on Monday . The stock traded as low as $18.21 and last traded at $17.5450. Approximately 12,988 shares were traded during trading, a decline of 14% from the average daily volume of 15,031 shares. The stock had previously closed at $18.22.

Innovator S&P Investment Grade Preferred ETF Stock Performance

The stock has a 50 day moving average price of $18.22 and a 200 day moving average price of $17.94.

Innovator S&P Investment Grade Preferred ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 31st were issued a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, October 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Innovator S&P Investment Grade Preferred ETF during the 1st quarter valued at approximately $195,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Innovator S&P Investment Grade Preferred ETF by 5.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,198 shares of the company’s stock worth $233,000 after purchasing an additional 708 shares during the period. Atria Wealth Solutions Inc. lifted its stake in Innovator S&P Investment Grade Preferred ETF by 5.7% in the second quarter. Atria Wealth Solutions Inc. now owns 13,198 shares of the company’s stock valued at $234,000 after purchasing an additional 708 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Innovator S&P Investment Grade Preferred ETF by 4.1% during the third quarter. Susquehanna International Group LLP now owns 20,495 shares of the company’s stock valued at $375,000 after purchasing an additional 805 shares during the period. Finally, Citadel Advisors LLC bought a new position in Innovator S&P Investment Grade Preferred ETF during the third quarter valued at $446,000.

About Innovator S&P Investment Grade Preferred ETF

The Innovator S&P Investment Grade Preferred ETF (EPRF) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index composed of U.S.-listed, investment grade, fixed-rate preferred issues, with a modified equal weighting. EPRF was launched on May 24, 2016 and is managed by Innovator.