Core Insights - B&D White Capital Company sold its entire position in the Goldman Sachs S&P 500 Premium Income ETF (GPIX) for approximately $8.6 million during the quarter ended September 30 [1][2][7] - The sale involved 172,332 shares, with GPIX shares closing at $52.73, reflecting a 7% increase over the past year [2][3] - The move indicates a broader trend of retreat from income-focused equity products, following a year of strong performance in covered-call strategies [7] ETF Overview - GPIX has assets under management (AUM) of $1.7 billion and offers an 8% dividend yield [4] - The ETF provides diversified exposure to S&P 500 equities and has a 1-year total return of 16% [4] - GPIX aims to deliver premium income by investing at least 80% of its assets in S&P 500 equity securities [9] Investment Strategy - The ETF's structure allows for steady monthly payouts through option premiums and dividends, appealing to income-focused institutional investors [6][8] - However, the mechanics of the fund may limit upside potential during bull markets [10] - The top holdings include significant positions in Amazon, Avantis US Equity ETF, and iShares Morningstar Growth ETF, indicating a shift towards core equity exposure [7][8]