PQAP PGIM Nasdaq-100 Buffer 12 ETF - April
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PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2024-12-27
- Has Options
- No
- Expense ratio
- 0.50% prospectus, filed Apr 1, 2026
- Assets
- $31M shares × price, Oct 9, 2026
- Trailing yield
- 0.01% paid annual
- Average daily volume
- $92K 30 sessions
- Holdings
- 5 top 10 are 110.7%
- Listed
- Dec 27, 2024 Nasdaq
- Reference asset
- QQQ period ends Mar 31, 2027 (172 days)
- Cap, full period
- 19.7% before fees
- Buffer, full period
- 12.0% first losses absorbed
- Reference since start
- +30.2% $751.27 on Oct 9, 2026
- Upside left to the cap
- 0.0% for a buyer today
- Drop before the buffer starts
- 23.2% unprotected from here
Moves with. US large-cap stocks (57% of its variance, beta 0.28); Emerging markets over US (10% of its variance, beta 0.07); Value over growth (10% of its variance, beta -0.05). These factors explain 76% of its daily moves over the last year.
Stated objective. The Funds investment objective is to provide investors with returns that match the price return of the Invesco QQQ Trust?, Series 1 up to a predetermined upside cap while providing a downside buffer against the first 12% (before fees and expenses) of the Invesco QQQ Trust?, Series 1 losses over the one-year Target Outcome Period. In seeking to achieve this investment objective, the Funds upside cap over the period April 1, 2026 through March 31, 2027 is 19.66% (before fees and expenses). (from the fund's prospectus)
- Jul 2026
- +$3.2M latest reported month
- Latest 3 months
- +$4.1M +15.6% of assets
- Latest 12 months
- +$18M +67.4% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$3.2M |
| Jun 2026 | +$2.5M |
| May 2026 | −$1.6M |
| Apr 2026 | +$4.8M |
| Mar 2026 | +$16K |
| Feb 2026 | +$4.0M |
| Jan 2026 | $0 |
| Dec 2025 | +$3.1M |
| Nov 2025 | +$845K |
| Oct 2025 | $0 |
| Sep 2025 | $0 |
| Aug 2025 | +$827K |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 21 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.9B | +13.2% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.0B | +6.8% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +10.5% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +16.7% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +13.8% | compare |
The largest other funds in the Buffer category.
- Authorized participants
- 3 active of 3 with agreements; top 3 did 100%
- Created · redeemed
- $6.0M · $1.5M over the fiscal year
- Redemptions in kind
- 93% creations 0% in kind
- Creation unit
- 10,000 shares
- Securities lending
- not authorized
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-30 | 2026-01-02 | $0.0049 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | WOLVERINE TRADING, LLC | 113.52% | Derivative (equity) | US |
| — | (PIPA070) PGIM Core Government Money Market Fund | 0.74% | Short-term investment | US |
| — | WOLVERINE TRADING, LLC | 0.18% | Derivative (equity) | US |
| — | WOLVERINE TRADING, LLC | -0.08% | Derivative (equity) | US |
| — | WOLVERINE TRADING, LLC | -14.32% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 99.29% | $26.2M | 4 |
| Short-term investment | 0.75% | $198500 | 1 |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | 1.24% | 0.54% | 0.89% |
| Feb | -0.15% | 0.21% | 0.03% |
| Mar | -0.13% | 0.92% | 0.40% |
| Apr | -0.09% | 6.47% | 3.19% |
| May | 4.16% | 2.39% | 3.28% |
| Jun | 2.53% | -0.26% | 1.13% |
| Jul | 1.68% | -0.29% | 0.69% |
| Aug | 1.42% | 1.27% | 1.34% |
| Sep | 1.73% | 1.72% | 1.73% |
| Oct | 0.69% | 0.56%* | 0.62% |
| Nov | 0.91% | -- | 0.91% |
| Dec | 1.04% | -- | 1.04% |
| Total | 16.02% | 14.19% | 15.10% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers and Primary Risks:
- Technical indicators suggest a strong uptrend, but RSI is overbought, indicating potential for a correction.
- Low volatility and correlation with the market indicate a defensive stock.
- No recent news headlines available.
Investment Thesis: PQAP has demonstrated a strong technical trend, but its relatively low volatility and correlation with the market may not justify its current price level. A correction or consolidation is possible in the short term.
Recent News Sentiment Impact: N/A (No recent news headlines available)
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- SMA 20: $31.73
- SMA 50: $30.73
- Bollinger Band Upper: $32.16
- Lower: $31.31
Momentum Signals:
- RSI (14): 82.04 (overbought)
- Interpretation: Potential sell signal
- MACD: Bullish crossover
- Stochastic %K/D: Overbought and aligned with the current trend
Volume Analysis:
- Volume SMA 20: 4027.25
- On-Balance Volume (OBV): 663851.72
- Volume Rate of Change: 366.03%
- Interpretation: Strong volume momentum
News & Sentiment Analysis
Recent Headlines Summary: N/A (No recent news headlines available)
Sentiment Assessment: N/A (No recent news headlines available)
Catalyst Identification: N/A (No earnings or news data available)
Market Narrative: The current trend and technical indicators suggest a strong uptrend, but the lack of recent news and low volatility may indicate a defensive stock.
Risk & Volatility Assessment
Beta Interpretation: 0.31 (low risk relative to market)
Volatility Regime: Low volatility regime
Options Market Signals:
- IV Premium vs HV30: N/A (positive = implied richer than realized)
- Interpretation: The options market is implying a higher price level, which may not be justified given the current technical and fundamental data.
Market Context & Positioning
Sector Performance: N/A (No sector-specific data available)
Institutional Activity: Volume patterns suggest institutional interest in the stock.
Correlation Analysis: PQAP has a low correlation with the market (0.83), indicating it may not be a reliable proxy for market movements.
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $31.73
- Bollinger Band Upper: $32.16
- Lower: $31.31
Breakout/Breakdown Levels: N/A (No specific levels identified)
Time-Sensitive Catalysts: N/A (No earnings or news data available)
Risk Management: Consider setting a stop-loss level at the SMA 20 ($31.73) to mitigate potential losses in case of a correction.
Note: The analysis is based on the provided technical indicators and does not take into account any fundamental analysis or external market factors.
PQAP Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
PQAP Institutional Ownership (13F)
Latest filings — 2026-06-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
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