Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) Sees Large Increase in Short Interest

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 56,572 shares, a growth of 247.9% from the January 15th total of 16,259 shares. Based on an average daily trading volume, of 97,381 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the company’s shares are short sold. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 97,381 shares, the days-to-cover ratio is presently 0.6 days.

Pacer Pacific Asset Floating Rate High Income ETF Price Performance

NYSEARCA:FLRT traded down $0.02 during mid-day trading on Wednesday, reaching $47.07. The company’s stock had a trading volume of 121,994 shares, compared to its average volume of 105,936. The stock has a market cap of $616.15 million, a P/E ratio of 10.84 and a beta of 0.13. The company’s fifty day simple moving average is $47.26 and its two-hundred day simple moving average is $47.34. Pacer Pacific Asset Floating Rate High Income ETF has a twelve month low of $45.06 and a twelve month high of $47.75.

Pacer Pacific Asset Floating Rate High Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, January 26th. Investors of record on Thursday, January 22nd were given a $0.1611 dividend. The ex-dividend date of this dividend was Thursday, January 22nd. This represents a c) annualized dividend and a dividend yield of 4.1%.

Hedge Funds Weigh In On Pacer Pacific Asset Floating Rate High Income ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in Pacer Pacific Asset Floating Rate High Income ETF during the third quarter worth approximately $141,000. Crestwood Advisors Group LLC acquired a new stake in shares of Pacer Pacific Asset Floating Rate High Income ETF during the 3rd quarter worth $870,000. Ameriflex Group Inc. raised its position in shares of Pacer Pacific Asset Floating Rate High Income ETF by 171.5% in the 3rd quarter. Ameriflex Group Inc. now owns 21,192 shares of the company’s stock worth $1,004,000 after buying an additional 13,386 shares during the period. Western Wealth Management LLC acquired a new position in Pacer Pacific Asset Floating Rate High Income ETF in the fourth quarter valued at $1,290,000. Finally, Price Capital Management Inc. acquired a new position in Pacer Pacific Asset Floating Rate High Income ETF in the second quarter valued at $1,424,000.

Pacer Pacific Asset Floating Rate High Income ETF Company Profile

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.