Introduction
On November 21, 2023, Janney Montgomery Scott LLC is an investment management firm based in Philadelphia, Pennsylvania, sold 3,580 shares of the Innovator U.S. Small Cap Power Buffer ETF (PSCF). This transaction was disclosed in a Form 13F filing with the Securities and Exchange Commission (SEC).
The sale was part of a larger portfolio rebalancing by Janney Montgomery Scott LLC, and it does not necessarily reflect any negative sentiment on the part of the firm towards PSCF or the small-cap asset class.
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What is the Innovator U.S. Small Cap Power Buffer ETF (PSCF)?
The Innovator U.S. Small Cap Power Buffer ETF (PSCF) is an exchange-traded fund (ETF) that tracks the performance of the S&P SmallCap 600 Index with a buffer mechanism designed to provide downside protection to investors.
The buffer mechanism aims to protect up to 10% of the net asset value (NAV) of the ETF over a one-year period, in exchange for capping the potential upside returns.
Details of the Transaction
Janney Montgomery Scott LLC sold 3,580 shares of PSCF on November 21, 2023, at an average price of approximately $24.50 per share. This represents a total sale value of approximately $86,250.
The sale was disclosed in a Form 13F filing with the SEC, which is required when an institutional investor sells more than $5 million worth of securities in a single day.
Potential Impact on the ETF
The sale of 3,580 shares by Janney Montgomery Scott is a relatively small transaction, and it is unlikely to have a significant impact on the overall price or performance of PSCF. However, it is important to note that any large sales by institutional investors can put downward pressure on a stock or ETF price.
Additionally, if other institutional investors follow suit and sell their holdings of PSCF, it could lead to a more pronounced decline in the ETF’s price.
What Does This Mean for Investors?
The sale of PSCF by Janney Montgomery Scott is a single data point, and it should not be considered in isolation when making investment decisions. Investors should always conduct their own research and due diligence before investing in any security, including ETFs. It is important to consider your investment objectives, risk tolerance, and time horizon before making any investment decisions.
Important Notes
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