Short Interest in VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Declines By 32.3%
by Tristan Rich · The Markets DailyVanEck IG Floating Rate ETF (NYSEARCA:FLTR – Get Free Report) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 937,082 shares, a decline of 32.3% from the January 29th total of 1,383,736 shares. Based on an average daily trading volume, of 824,746 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.9% of the shares of the company are sold short. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 824,746 shares, the days-to-cover ratio is presently 1.1 days.
VanEck IG Floating Rate ETF Price Performance
NYSEARCA:FLTR traded up $0.01 during trading hours on Friday, hitting $25.58. 427,078 shares of the company traded hands, compared to its average volume of 812,251. The firm has a 50-day moving average of $25.53 and a 200 day moving average of $25.52. VanEck IG Floating Rate ETF has a twelve month low of $24.59 and a twelve month high of $25.59.
VanEck IG Floating Rate ETF Cuts Dividend
The company also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a $0.0947 dividend. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in shares of VanEck IG Floating Rate ETF during the 1st quarter worth approximately $1,969,000. Spire Wealth Management grew its position in VanEck IG Floating Rate ETF by 1,058.0% during the 2nd quarter. Spire Wealth Management now owns 1,297 shares of the company’s stock worth $33,000 after acquiring an additional 1,185 shares during the last quarter. Strategic Financial Concepts LLC raised its position in VanEck IG Floating Rate ETF by 6.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 512,998 shares of the company’s stock valued at $13,084,000 after purchasing an additional 32,740 shares during the last quarter. Optivise Advisory Services LLC boosted its stake in VanEck IG Floating Rate ETF by 3.5% in the second quarter. Optivise Advisory Services LLC now owns 49,815 shares of the company’s stock worth $1,270,000 after purchasing an additional 1,680 shares in the last quarter. Finally, Verus Capital Partners LLC bought a new stake in shares of VanEck IG Floating Rate ETF during the second quarter worth $734,000.
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.