Roundhill S&P 500 Target 10 Managed Distribution ETF Stock Price, News & Analysis
Company Description
Roundhill S&P 500 Target 10 Managed Distribution ETF is an exchange-traded fund that targets exposure to the return of the S&P 500 Index while following a managed distribution policy. The fund trades on Cboe BZX under the ticker TPAY and was launched by Roundhill Investments, an ETF sponsor focused on financial products.
TPAY is structured around two core features: equity-market exposure tied to the S&P 500 Index and monthly distribution payments set at an annualized rate of 10%. The distribution program is based on the fund's net asset value on the final business day of December each calendar year. Payments are made from fund assets and are not limited to dividends, income, or realized capital gains generated by the portfolio.
The fund's managed payout structure means distributions can reduce assets available for investment. If distributions exceed the fund's earnings and profits, the excess can be treated as a return of capital to the extent of a shareholder's tax basis in fund shares. Return of capital represents a return of a portion of invested capital rather than investment income, and it can affect gain or loss recognition when fund shares are sold.
TPAY is exposed to market risk because fund shares and portfolio securities can decline in value. The fund's risk profile includes equity-market fluctuations tied to economic, political, regulatory, interest-rate, and broader securities-market developments. Its reference index, managed distribution policy, monthly payout design, and ETF trading format define the fund's public-market identity.
Stock Performance
Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) stock last traded at $52.15, up 0.39% from the previous close. Over the past 12 months, the stock has gained 4.7%.
Latest News
Roundhill S&P 500 Target 10 Managed Distribution ETF has 2 recent news articles. Of the recent coverage, 0 articles coincided with positive price movement and 1 with negative movement. View all TPAY news →
SEC Filings
Financial Highlights
Upcoming Events
Short Interest History
Short interest in Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) currently stands at 1.2 thousand shares, up 99.2% from the previous reporting period, representing 4.1% of the float. Over the past 12 months, short interest has decreased by 18%. This relatively low short interest suggests limited bearish sentiment.
Days to Cover History
Days to cover for Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) currently stands at 1.9 days, up 91% from the previous period. This low days-to-cover ratio indicates high liquidity, allowing short sellers to quickly exit positions if needed. The days to cover has increased 91% over the past year, indicating either rising short interest or declining trading volume. The ratio has shown significant volatility over the period, ranging from 1.0 to 1.9 days.