Goldman Sachs S&P 500 Core Premium Income ETF (NASDAQ:GPIX) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Goldman Sachs S&P 500 Core Premium Income ETF (NASDAQ:GPIX) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $55.95 and traded as high as $56.13. Goldman Sachs S&P 500 Core Premium Income ETF shares last traded at $56.06, with a volume of 934,423 shares.

Goldman Sachs S&P 500 Core Premium Income ETF Price Performance

The stock has a market cap of $6.36 billion, a P/E ratio of 25.98 and a beta of 0.83. The business’s fifty day moving average price is $55.95 and its 200 day moving average price is $54.26.

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

The business also recently declared a monthly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, October 1st were issued a dividend of $0.3970 per share. This is a drop from Goldman Sachs S&P 500 Core Premium Income ETF’s previous monthly dividend of $0.3974. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $4.76 annualized dividend and a dividend yield of 8.5%.

Hedge Funds Weigh In On Goldman Sachs S&P 500 Core Premium Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPIX. Essential Investment Partners LLC bought a new position in Goldman Sachs S&P 500 Core Premium Income ETF in the 3rd quarter valued at approximately $148,000. VestGen Advisors LLC bought a new stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF during the third quarter worth $274,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF during the third quarter worth $243,000. Oppenheimer & Co. Inc. bought a new stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF during the third quarter worth $607,000. Finally, Apollon Wealth Management LLC grew its stake in shares of Goldman Sachs S&P 500 Core Premium Income ETF by 321.8% during the third quarter. Apollon Wealth Management LLC now owns 116,927 shares of the company’s stock worth $6,528,000 after buying an additional 89,205 shares during the last quarter.

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.