VanEck CLO ETF (NYSEARCA:CLOI) Sees Strong Trading Volume – Should You Buy?

VanEck CLO ETF (NYSEARCA:CLOI) saw unusually-high trading volume on Tuesday . Approximately 540,716 shares changed hands during mid-day trading, an increase of 135% from the previous session’s volume of 230,415 shares.The stock last traded at $52.94 and had previously closed at $52.93.

VanEck CLO ETF Stock Performance

The firm has a 50-day moving average price of $52.88 and a two-hundred day moving average price of $52.79.

Institutional Trading of VanEck CLO ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLOI. Independence Asset Advisors LLC increased its holdings in shares of VanEck CLO ETF by 17.2% in the 1st quarter. Independence Asset Advisors LLC now owns 1,863,451 shares of the company’s stock valued at $98,203,000 after acquiring an additional 273,532 shares during the period. Axxcess Wealth Management LLC purchased a new stake in VanEck CLO ETF in the 4th quarter valued at $13,501,000. Employees Retirement Fund of the City of Fort Worth acquired a new stake in VanEck CLO ETF during the 4th quarter worth $11,967,000. Alpha Zero LLC acquired a new stake in VanEck CLO ETF during the 1st quarter worth $8,341,000. Finally, CoreCap Advisors LLC grew its position in VanEck CLO ETF by 18,981.4% during the 2nd quarter. CoreCap Advisors LLC now owns 125,174 shares of the company’s stock worth $6,628,000 after purchasing an additional 124,518 shares during the last quarter.

About VanEck CLO ETF

The VanEck CLO ETF (CLOI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to invest in collateralized loan obligations (CLOs) of any maturity. While targeting USD-denominated high-quality CLOs, the fund may still hold high-yield bonds in foreign currency. CLOI was launched on Jun 21, 2022 and is managed by VanEck.