VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Reaches New 12-Month High – What’s Next?

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high during trading on Friday . The stock traded as high as $25.59 and last traded at $25.5850, with a volume of 797205 shares. The stock had previously closed at $25.57.

VanEck IG Floating Rate ETF Trading Up 0.0%

The firm has a fifty day simple moving average of $25.52 and a 200-day simple moving average of $25.51.

VanEck IG Floating Rate ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were issued a dividend of $0.0947 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Investors Weigh In On VanEck IG Floating Rate ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthfront Advisers LLC grew its stake in VanEck IG Floating Rate ETF by 182.0% during the second quarter. Wealthfront Advisers LLC now owns 5,159,089 shares of the company’s stock worth $131,557,000 after buying an additional 3,329,539 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of VanEck IG Floating Rate ETF by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,539,629 shares of the company’s stock worth $115,670,000 after acquiring an additional 37,828 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in VanEck IG Floating Rate ETF by 2.9% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 4,272,209 shares of the company’s stock valued at $108,941,000 after acquiring an additional 120,351 shares during the last quarter. Kensington Asset Management LLC raised its position in VanEck IG Floating Rate ETF by 20.6% during the fourth quarter. Kensington Asset Management LLC now owns 2,589,451 shares of the company’s stock valued at $65,902,000 after purchasing an additional 442,359 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in VanEck IG Floating Rate ETF by 11.8% during the third quarter. Raymond James Financial Inc. now owns 1,880,084 shares of the company’s stock worth $48,074,000 after purchasing an additional 199,135 shares during the last quarter.

VanEck IG Floating Rate ETF Company Profile

The VanEck Investment Grade Floating Rate ETF (FLTR) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of US dollar-denominated, investment-grade floating-rate notes issued by corporate entities. FLTR was launched on Apr 25, 2011 and is managed by VanEck.