Parametric Equity Premium Income ETF (PAPI) Stock Price, Quote, News & History | Benzinga

The Fund is an actively managed exchange-traded fund (ETF). The investment objective of the Fund is to seek to provide consistent monthly income while maintaining prospects for capital appreciation. The Adviser and Parametric Portfolio Associates LLC (the Sub-Adviser) seek to fulfill the Funds objective by using two principal strategies (1) creating an actively-managed portfolio of dividend-paying equity securities that primarily include common stocks of U.S. companies selected from the Russell 3000 Index (the long equity portfolio); and (2) selling (writing) option contracts on the SPDR S&P 50 ETF Trust (the Underlying ETF) or on the S&P 500 Index (Underlying Index) to generate additional yield.