Innovator Gradient Tactical Rotation Strategy ETF (NYSEARCA:IGTR) Sees Large Drop in Short Interest

Innovator Gradient Tactical Rotation Strategy ETF (NYSEARCA:IGTR) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 334 shares, a decline of 48.4% from the February 12th total of 647 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 6,504 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 6,504 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Innovator Gradient Tactical Rotation Strategy ETF Price Performance

IGTR traded down $0.50 during mid-day trading on Thursday, hitting $28.55. The stock had a trading volume of 4,208 shares, compared to its average volume of 4,588. The stock’s fifty day simple moving average is $29.37 and its 200-day simple moving average is $27.72. The firm has a market capitalization of $55.67 million, a price-to-earnings ratio of 18.93 and a beta of 0.74. Innovator Gradient Tactical Rotation Strategy ETF has a 1-year low of $22.07 and a 1-year high of $30.98.

Innovator Gradient Tactical Rotation Strategy ETF Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Friday, January 2nd. Investors of record on Wednesday, December 31st were given a $0.2241 dividend. The ex-dividend date was Wednesday, December 31st. This represents a dividend yield of 80.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IGTR. Royal Bank of Canada grew its stake in Innovator Gradient Tactical Rotation Strategy ETF by 58.5% in the fourth quarter. Royal Bank of Canada now owns 1,330 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares during the period. Bank of America Corp DE acquired a new stake in shares of Innovator Gradient Tactical Rotation Strategy ETF during the third quarter worth about $128,000. Accurate Wealth Management LLC bought a new position in shares of Innovator Gradient Tactical Rotation Strategy ETF during the 3rd quarter valued at about $384,000. Jane Street Group LLC grew its position in shares of Innovator Gradient Tactical Rotation Strategy ETF by 31.2% in the 2nd quarter. Jane Street Group LLC now owns 18,177 shares of the company’s stock valued at $448,000 after purchasing an additional 4,319 shares during the period. Finally, Susquehanna International Group LLP grew its position in shares of Innovator Gradient Tactical Rotation Strategy ETF by 68.3% in the 3rd quarter. Susquehanna International Group LLP now owns 98,484 shares of the company’s stock valued at $2,602,000 after purchasing an additional 39,972 shares during the period.

Innovator Gradient Tactical Rotation Strategy ETF Company Profile

The Innovator Gradient Tactical Rotation Strategy ETF (IGTR) is an exchange-traded fund that is based on the S&P Global BMI – USD index. The fund is an actively managed fund that uses a proprietary, rules-based approach to toggle investments among various equity markets and cash. The funds tactical strategy determines investments based on momentum. IGTR was launched on Nov 17, 2022 and is managed by Innovator.