- "We believe the shares have overshot economic potential of nascent ETMF business while looking past both the complexities associated with the launch/adoption along with still mixed real-time long-term flow dynamics," says Citi's William Katz, downgrading the name to a Sell after last week's near 25% pop on news of the SEC approval (the stock has already given back about half of that moonshot).
- Previously: Eaton Vance up almost 10% as SEC approves new type of ETF
- EV -2.4% on the session.