{"url":"https://etfiq.com/funds/bamd/trading/","section":"funds","title":"BAMD Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"BAMD trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Oct 22, 2026","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/bamd/trading/#data","name":"BAMD trading costs and liquidity","description":"BAMD trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/bamd/trading/","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","variableMeasured":["30-day median bid-ask spread","Premium or discount to NAV","Capacity","Active authorized participants","IQ Liquidity Score","Cost to trade by order size"],"distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}],"publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Who is the AP for BAMD?","acceptedAnswer":{"@type":"Answer","text":"BAMD\u2019s latest Form N-CEN, for the period ending May 31, 2026, lists 7 authorized participants (APs), and 4 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (88.2%), BofA Securities, Inc. (9.4%), Virtu Americas LLC (1.9%) of the dollars its APs created and redeemed."}},{"@type":"Question","name":"Who is the LMM for BAMD?","acceptedAnswer":{"@type":"Answer","text":"BAMD\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/bamd#fund","name":"Brookstone Dividend Stock ETF","alternateName":"BAMD","url":"https://etfiq.com/funds/bamd","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"BAMD"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/bamd#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"BAMD","item":"https://etfiq.com/funds/bamd"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/bamd/trading/"}]},{"@type":"WebPage","name":"BAMD Bid-Ask Spread, Liquidity and NAV Premium","description":"BAMD trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/bamd/trading/","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3679,"truncated":false,"content":"ETFIQ / BAMD / Trading \n \n As of Oct 22, 2026. Rebuilt every trading night.\n BAMD bid-ask spread and liquidity\n IQ Liquidity Score\n Not scored, 1 of 6 measured.\n A fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund can be bought and sold, not whether to own it. How the score is built \n Flags: One dealer.\n Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Holdings can absorb up to $140m a day; part of the book has no volume figure Price fidelity Not measured: no closing premium is held for this fund Primary market, 50.0 4 active dealers of 7; largest 88% of creations and redemptions, N-CEN to May 31, 2026 Bad-day behaviour Not measured: no daily closing premium is held for this fund Depth Not measured: needs trade and quote data (Phase 2) \n Capacity\n Its holdings can absorb up to $140m a day, measured on its own holdings, as of Oct 22, 2026. The holding that sets the limit is CNA FINANCIAL CORP (CNA), 1.31% of the fund.\n Dealers\n 4 active of 7 authorized participants; the largest did 88% of creations and redemptions, in the year to May 31, 2026 (Form N-CEN filed Aug 13, 2026).\n The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (88.2%), BofA Securities, Inc. (9.4%), Virtu Americas LLC (1.9%), J.P. Morgan Securities LLC (0.5%). 3 more were listed and created or redeemed nothing.\n How to trade BAMD\n When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund\u2019s own day once it has trade data. Size Part of its book has no volume figure, so the room for a large order is an upper bound. Coming with trade data\n Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n Who is the AP for BAMD? BAMD\u2019s latest Form N-CEN, for the period ending May 31, 2026, lists 7 authorized participants (APs), and 4 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (88.2%), BofA Securities, Inc. (9.4%), Virtu Americas LLC (1.9%) of the dollars its APs created and redeemed. Who is the LMM for BAMD? BAMD\u2019s lead market maker (LMM) on Cboe BZX is GTS Securities LLC. Lead market maker per Cboe BZX, as of Oct 23, 2026. Sources and dates\n Capacity: ETFIQ, from each holding\u2019s 20-day median dollar volume, to Oct 22, 2026.\n Dealers: Form N-CEN, the year to May 31, 2026, accession 0000910472-26-011558.\n Where to next\n BAMD fund page ETF trading costs and liquidity Limit orders vs market orders for ETFs Why low volume does not mean illiquid How the IQ Liquidity Score is built Compare BAMD with another fund The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources \n Cite this page. ETFIQ, BAMD trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/bamd/trading/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, BAMD trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/bamd/trading/ APA ETFIQ. (Oct 22, 2026). BAMD trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/bamd/trading/ Markdown [BAMD trading: cost, capacity, premium and dealers (ETFIQ, Oct 22, 2026)](https://etfiq.com/funds/bamd/trading/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, BAMD trading: cost, capacity, premium and dealers, data as of Oct 22, 2026. https://etfiq.com/funds/bamd/trading/"}