Short Interest in Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) Grows By 252.6%

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 51,062 shares, an increase of 252.6% from the August 15th total of 14,481 shares. Based on an average daily volume of 155,104 shares, the short-interest ratio is presently 0.3 days. Currently, 0.4% of the company’s shares are sold short.

Pacer Pacific Asset Floating Rate High Income ETF Price Performance

Shares of Pacer Pacific Asset Floating Rate High Income ETF stock traded down $0.01 on Friday, reaching $46.75. The company had a trading volume of 165,889 shares, compared to its average volume of 115,263. The firm has a market cap of $661.51 million, a price-to-earnings ratio of 10.84 and a beta of 0.13. The firm’s 50-day moving average price is $46.75 and its two-hundred day moving average price is $46.66. Pacer Pacific Asset Floating Rate High Income ETF has a 1 year low of $46.00 and a 1 year high of $47.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLRT. PSI Advisors LLC raised its stake in shares of Pacer Pacific Asset Floating Rate High Income ETF by 4.6% in the fourth quarter. PSI Advisors LLC now owns 54,166 shares of the company’s stock valued at $2,553,000 after acquiring an additional 2,363 shares during the period. Sunbelt Securities Inc. bought a new position in Pacer Pacific Asset Floating Rate High Income ETF during the 3rd quarter valued at about $141,000. NewEdge Advisors LLC grew its holdings in Pacer Pacific Asset Floating Rate High Income ETF by 1.8% during the 4th quarter. NewEdge Advisors LLC now owns 186,596 shares of the company’s stock valued at $8,795,000 after purchasing an additional 3,272 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Pacer Pacific Asset Floating Rate High Income ETF in the 1st quarter worth about $222,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in Pacer Pacific Asset Floating Rate High Income ETF in the second quarter worth about $240,000.

About Pacer Pacific Asset Floating Rate High Income ETF

The Pacer Pacific Asset Floating Rate High Income ETF (FLRT) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund targeting floating-rate debt from non-investment-grade issuers. FLRT was launched on Feb 19, 2015 and is managed by Pacer.