VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Sees Significant Decrease in Short Interest

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 473,411 shares, a decline of 46.5% from the February 26th total of 884,234 shares. Based on an average daily trading volume, of 682,656 shares, the short-interest ratio is presently 0.7 days. Approximately 0.5% of the company’s stock are short sold.

Hedge Funds Weigh In On VanEck IG Floating Rate ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtue Capital Management LLC lifted its stake in shares of VanEck IG Floating Rate ETF by 13,805.5% in the fourth quarter. Virtue Capital Management LLC now owns 1,161,111 shares of the company’s stock worth $29,597,000 after buying an additional 1,152,761 shares during the last quarter. Lane Brothers & Co. Inc. acquired a new position in VanEck IG Floating Rate ETF in the 4th quarter valued at $15,002,000. Corient Private Wealth LLC acquired a new position in VanEck IG Floating Rate ETF in the 4th quarter valued at $11,647,000. Kensington Asset Management LLC raised its holdings in VanEck IG Floating Rate ETF by 20.6% in the 4th quarter. Kensington Asset Management LLC now owns 2,589,451 shares of the company’s stock worth $65,902,000 after acquiring an additional 442,359 shares during the period. Finally, Elevatus Welath Management bought a new position in VanEck IG Floating Rate ETF in the 3rd quarter worth $11,199,000.

VanEck IG Floating Rate ETF Price Performance

Shares of NYSEARCA FLTR opened at $25.46 on Friday. The business’s 50-day simple moving average is $25.52 and its 200-day simple moving average is $25.51. VanEck IG Floating Rate ETF has a 52 week low of $24.59 and a 52 week high of $25.59.

VanEck IG Floating Rate ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a dividend of $0.086 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 4.1%.

About VanEck IG Floating Rate ETF

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.