Seeking AlphaT3·28mo ago
PZA Invesco National AMT-Free Municipal Bond ETF
ETF 22.02 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PZA
$22.02
—
Key stats
$22.02
- 52-Week Range
- $21.07 – $23.63
- YTD
- -5.29%
- IV Rank (30D)
- 6.82
- Straddle Price
- $0.25
- P/C Vol Ratio
- 0.00
- Open
- $21.98
- Day Range
- $21.89 – $22.02
- Volume
- 2,793,555
- Prev Close
- $21.84
About
Invesco National AMT-Free Municipal Bond ETF (PZA) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2007-10-11
- Has Options
- Yes
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
- Expense ratio
- 0.28% prospectus, filed Dec 18, 2025
- Assets
- $4.1B shares × price, Oct 30, 2026
- Trailing yield
- 4.02% paid monthly
- Average daily volume
- $92M 30 sessions
- Holdings
- 6,664 top 10 are 1.0%
- Listed
- Oct 11, 2007 NYSE Arca
- Tracking difference
- -0.58 pts vs index, after fees, FY 2025
Cost45
Liquidity99
Scale97
Diversification100
Moves with. Long Treasuries (25% of its variance, beta 0.23); US large-cap stocks (8% of its variance, beta 0.10); High yield over Treasuries (3% of its variance, beta -0.15). These factors explain 40% of its daily moves over the last year.
Stated objective. The Invesco National AMT-Free Municipal Bond ETF (the Fund) seeks to track the investment results (before fees and expenses) of the ICE BofA National Long-Term Core Plus Municipal Securities Index (the Underlying Index). (from the fund's prospectus)
All 6,664 holdingsFlow historyOverlap toolAll National Muni ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$103M latest reported month
- Latest 3 months
- +$400M +9.7% of assets
- Latest 12 months
- +$1.2B +28.6% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$103M |
| Apr 2026 | +$135M |
| Mar 2026 | +$162M |
| Feb 2026 | +$312M |
| Jan 2026 | +$125M |
| Dec 2025 | −$13M |
| Nov 2025 | −$87M |
| Oct 2025 | +$88M |
| Sep 2025 | +$165M |
| Aug 2025 | +$153M |
| Jul 2025 | +$33M |
| Jun 2025 | +$12M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| MUBiShares National Muni Bond ETF | — | 0.05% | $54.4B | −3.0% | compare |
| VTEBVanguard Tax-Exempt Bond Index Fund | — | 0.03% | $51.3B | −3.3% | compare |
| JMUBJPMorgan Municipal ETF | — | 0.18% | $9.0B | −3.0% | compare |
| CGMUCapital Group Municipal Income ETF | — | 0.27% | $7.4B | −2.7% | compare |
| SCMBSchwab Municipal Bond ETF | — | 0.03% | $4.0B | −3.9% | compare |
The largest other funds in the National Muni category.
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 5 active of 41 with agreements; top 3 did 97%
- Created · redeemed
- $1.1B · $815M over the fiscal year
- Redemptions in kind
- 99% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- not authorized
- Return vs index
- -0.58 pts after fees; -0.31 before; daily s.d. 0.38
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-05-31
Holdings
6664
AUM
$4.0B
Provider
Nport
Inception
2007-10-11
Exchange
ARCX
Data As Of
2026-05-31
Expense Ratio
0.28%
Dividend Yield
4.02%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-19 | 2026-10-23 | $0.0777 | CD |
| 2026-09-21 | 2026-09-25 | $0.0748 | CD |
| 2026-08-24 | 2026-08-28 | $0.0762 | CD |
| 2026-07-20 | 2026-07-24 | $0.0753 | CD |
| 2026-06-22 | 2026-06-26 | $0.0731 | CD |
| 2026-05-18 | 2026-05-22 | $0.0733 | CD |
Asset Allocation
Top Holdings
top 50 of 6664 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | California (State of) Health Facilities Financing Authority (Kaiser Permanente) | 0.13% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.12% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.11% | Debt | US |
| — | Salt River Project Agricultural Improvement & Power District | 0.10% | Debt | US |
| — | Texas Water Development Board | 0.10% | Debt | US |
| — | Regents of the University of California Medical Center | 0.10% | Debt | US |
| — | Regents of the University of California Medical Center | 0.10% | Debt | US |
| — | Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group) | 0.10% | Debt | US |
| — | Texas Transportation Finance Corp. | 0.09% | Debt | US |
| — | Triborough Bridge & Tunnel Authority | 0.09% | Debt | US |
| — | California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) | 0.09% | Debt | US |
| — | New York State Urban Development Corp. | 0.09% | Debt | US |
| — | San Diego Unified School District (Election of 2012) | 0.09% | Debt | US |
| — | Lower Alabama Gas District (The) | 0.09% | Debt | US |
| — | New Jersey (State of) Turnpike Authority | 0.09% | Debt | US |
| — | Chicago (City of), IL Board of Education | 0.09% | Debt | US |
| — | California (State of) Educational Facilities Authority | 0.09% | Debt | US |
| — | Jefferson (County of), AL | 0.09% | Debt | US |
| — | California (State of) Educational Facilities Authority (Stanford University) | 0.09% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.09% | Debt | US |
| — | New Jersey Transportation Trust Fund Authority | 0.09% | Debt | US |
| — | Miami-Dade (County of), FL | 0.08% | Debt | US |
| — | Grand Parkway Transportation Corp. | 0.08% | Debt | US |
| — | Metropolitan Washington Airports Authority | 0.08% | Debt | US |
| — | Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) | 0.08% | Debt | US |
| — | Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) | 0.08% | Debt | US |
| — | Oklahoma (State of) Turnpike Authority | 0.08% | Debt | US |
| — | Jefferson (County of), AL | 0.08% | Debt | US |
| — | Massachusetts (Commonwealth of) | 0.08% | Debt | US |
| — | Triborough Bridge & Tunnel Authority | 0.08% | Debt | US |
| — | Illinois (State of) Toll Highway Authority | 0.08% | Debt | US |
| — | Texas (State of) Water Development Board | 0.08% | Debt | US |
| — | Colorado (State of) Health Facilities Authority (CommonSpirit Health) | 0.08% | Debt | US |
| — | Northwest Independent School District | 0.08% | Debt | US |
| — | Hays Consolidated Independent School District | 0.08% | Debt | US |
| — | New Jersey (State of) Economic Development Authority (Portal North Bridge) | 0.08% | Debt | US |
| — | New York State Urban Development Corp. | 0.08% | Debt | US |
| — | Board of Regents of the University of Texas System | 0.08% | Debt | US |
| — | New York (City of), NY Municipal Water Finance Authority | 0.08% | Debt | US |
| — | New Jersey (State of) Transportation Trust Fund Authority | 0.08% | Debt | US |
| — | New York City Municipal Water Finance Authority | 0.08% | Debt | US |
| — | Metropolitan Transportation Authority (Green Bonds) | 0.08% | Debt | US |
| — | Battery Park City Authority | 0.08% | Debt | US |
| — | North Texas Tollway Authority | 0.07% | Debt | US |
| — | Salt River Project Agricultural Improvement & Power District | 0.07% | Debt | US |
| — | Wisconsin (State of) Public Finance Authority | 0.07% | Debt | US |
| — | University of California | 0.07% | Debt | US |
| — | Metropolitan Transportation Authority (Green Bonds) | 0.07% | Debt | US |
| — | County of Miami-Dade FL Water & Sewer System Revenue | 0.07% | Debt | US |
| — | Triborough Bridge & Tunnel Authority (Green Bonds) | 0.07% | Debt | US |
Non-Equity Breakdown
Invesco National AMT-Free Municipal Bond ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-29)
Net assets:
$4.15B
· 6664 total positions
· equity 0.00%
· non-equity 95.79%
Non-equity holdings
— 6664 positions,
95.79% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Municipal | 95.79% | $3.97B | 6664 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.22% | -3.03% | 3.11% | -0.74% | -1.05% | 0.17% | -0.22% |
| Feb | -2.42% | -1.29% | -3.83% | -0.83% | 1.02% | 1.29% | -1.01% |
| Mar | 0.68% | -4.26% | 2.60% | -0.75% | -2.83% | -2.21% | -1.13% |
| Apr | 0.78% | -4.65% | -0.29% | -1.18% | -1.98% | 0.82% | -1.08% |
| May | 0.55% | 1.77% | -0.21% | -0.13% | -1.50% | 0.09% | 0.10% |
| Jun | 0.26% | -2.98% | 0.43% | 0.81% | 0.63% | 0.77% | -0.01% |
| Jul | 0.44% | 2.50% | 0.17% | 1.48% | -1.47% | -2.76% | 0.06% |
| Aug | -0.66% | -3.92% | -1.96% | -0.63% | -0.31% | -1.18% | -1.44% |
| Sep | -1.29% | -4.37% | -3.44% | 0.88% | 4.24% | -4.68% | -1.44% |
| Oct | -0.35% | -2.16% | -1.67% | -2.15% | 0.99% | 2.85%* | -0.41% |
| Nov | 0.97% | 5.94% | 6.89% | 1.90% | 0.17% | -- | 3.17% |
| Dec | 0.07% | -1.88% | 3.20% | -2.36% | -0.17% | -- | -0.23% |
| Total | -0.80% | -17.36% | 4.57% | -3.73% | -2.42% | -4.95% | -4.12% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- 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.
Momentum Oscillators
- 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.
Volume & Volatility
- 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
SMA 20: $21.59
SMA 50: $21.90
SMA 200: $22.91
Current: $22.02
EMA 12: $21.77
EMA 26: $21.74
MACD: 0.0345 | Signal: 0.0806
BEARISH
ADX (14): 26.56
TREND
+DI: 22.39
−DI: 20.63
Momentum Oscillators
RSI (14): 62.38
NEUTRAL
Stoch %K: 89.25
Stoch %D: 89.47
Williams %R: 0.00
Volume & Volatility
BB Upper: $22.07
BB Lower: $21.11
NEUTRAL
OBV: 25,402,749
Vol SMA 20: 4,053,017
Vol ROC: -57.44%
ATR: $0.19
True Range: $0.18
HV 20: 8.0%
HV 30: 9.1%
HV 60: 7.5%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-01T00:00:00 – 2026-10-30T00:00:00
AI Analysis
Here is my comprehensive stock analysis report for PZA:
Executive Summary
- Overall assessment: NEUTRAL with a confidence level of 6/10
- Key drivers: Technical signals, options metrics, and recent news headlines
- Primary risks: Volatility, market sentiment, and earnings surprises
- Investment thesis: PZA is trading within a neutral range, with technical indicators suggesting a potential bounce from oversold levels. However, the stock's low volatility and beta indicate that it may not be as sensitive to market movements.
- Recent news sentiment impact: The recent headlines are mostly neutral, with no significant market-moving events or earnings surprises.
Technical Analysis
- Trend direction:
- Short-term (1-4 weeks): BEARISH
- Medium-term (1-3 months): NEUTRAL
- Long-term (3-12 months): BULLISH
- Support/Resistance levels: $22.33 (lower Bollinger Band), $23.21 (SMA 200), and $23.23 (upper Bollinger Band)
- Momentum signals:
- RSI interpretation: OVERSOLD (24.48) with a potential buy signal
- MACD signal: BEARISH (crossover below the signal line)
- Bollinger Bands position: NEUTRAL (price touching the middle band)
- Volume analysis: Low volume flow, but high volume rate of change suggests institutional interest
News & Sentiment Analysis
- Recent headlines summary: Neutral news headlines with no significant market-moving events or earnings surprises
- Sentiment assessment: NEUTRAL overall sentiment from recent headlines
- Catalyst identification: No upcoming earnings or product launches scheduled
- Market narrative: PZA is trading within a neutral range, awaiting catalysts to break out
Risk & Volatility Assessment
- Beta interpretation: Low volatility (beta = 0.13) compared to the market
- Volatility regime: Historical volatility (HV20 = 4.1%, HV30 = 4.3%) suggests low risk
- Options market signals:
- IV rank: LOW (5.1%)
- Put/call ratios: BEARISH (7.50)
- Unusual activity: No significant activity observed
- Downside protection: Support levels at $22.33 and $22.78 (SMA 20) are in place
Market Context & Positioning
- Sector performance: PZA is trading within its normal range compared to the sector/market
- Institutional activity: Low volume flow but high volume rate of change suggests institutional interest
- Correlation analysis: PZA has a low correlation with the market (R-squared = 0.38)
- Relative valuation: PZA is trading near its historical average price-to-earnings ratio
Key Levels & Action Items
- Critical price levels:
- Support: $22.33, $22.78 (SMA 20), and $23.21 (SMA 200)
- Resistance: $23.23 (upper Bollinger Band) and $24.48 (RSI overbought level)
- Breakout/breakdown levels:
- Short-term: $22.33 (lower Bollinger Band) for a potential bounce
- Medium-term: $23.21 (SMA 200) for a confirmation of the uptrend
- Time-sensitive catalysts: No upcoming earnings or product launches scheduled
- Risk management: Stop-loss levels at $22.30 and position sizing considerations based on volatility
Note: This analysis is neutral due to the lack of significant market-moving events or earnings surprises, but it highlights potential technical signals and options metrics that could influence the stock's movement.
Generated
News
All PZA news →
Seeking AlphaT3·37mo ago
Seeking AlphaT3·65mo ago
BenzingaT3·66mo ago
PZA Options Activity & IV Rank
PZA IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 15.8%
7-DTE IV: 21.8%
Expected Move: $0.25
7-DTE Move: $0.25
Days to Exp: 21 (2026-11-20)
Options Flow
Call Volume: 42
Put Volume: 0
P/C Volume: —
BULLISH
Call OI: 4
Put OI: 0
P/C OI: —
Total OI: 4
ATM Options Pricing
ATM Call: $0.15
ATM Put: $0.10
Call %: 0.7%
Put %: 0.5%
Chain Summary
Chain Volume: 852
Chain OI: 2,192
Last Updated: 10/30/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
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.
Stage 2 — Skew Adjustment (±25% cap)
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.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- 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.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 73rd percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
73%
vs own history
GEX tilt
+0.80
OI-weighted, today
Vanna tilt
-0.61
δ-sensitivity to IV
Charm tilt
-0.07
δ-decay vs time
Vanna tilt -0.61: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
? What is this?
· 5 ATM contracts, 1k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
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.
Risk Reversal
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.
Reading them together
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.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 30 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 30 · No data
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
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.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)4.8LowOct 30
IV Rank (30 DTE)6.8LowOct 30
Straddle Price (30 DTE)$0.25Oct 30
Beta Analysis
Risk Metrics
Beta: 0.1279
Alpha: -7.09%
Correlation: 0.3153
R-Squared: 9.9%
Stock Volatility: 5.2%
Market Volatility: 12.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
PZA Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional 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.
1 filers$1.03M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.03M | 100.00% | 2026-06-30 |
1 filers$738.53K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $738.53K | 100.00% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
164.46K
SI % of Float
0.09%
Days to Cover
1.00
Short Vol Ratio
27.5%
Free Float
—
Float %
—
Short interest 2026-10-15 • Short volume 2026-10-30
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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