VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Hits New 12-Month High – Still a Buy?

VanEck IG Floating Rate ETF (NYSEARCA:FLTR)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $25.59 and last traded at $25.5850, with a volume of 797205 shares trading hands. The stock had previously closed at $25.57.

VanEck IG Floating Rate ETF Stock Performance

The firm’s fifty day moving average is $25.52 and its 200 day moving average is $25.51.

VanEck IG Floating Rate ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.0947 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, February 2nd.

Institutional Trading of VanEck IG Floating Rate ETF

Hedge funds have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its holdings in VanEck IG Floating Rate ETF by 182.0% in the 2nd quarter. Wealthfront Advisers LLC now owns 5,159,089 shares of the company’s stock valued at $131,557,000 after buying an additional 3,329,539 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of VanEck IG Floating Rate ETF by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,539,629 shares of the company’s stock valued at $115,670,000 after acquiring an additional 37,828 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in VanEck IG Floating Rate ETF by 2.9% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 4,272,209 shares of the company’s stock worth $108,941,000 after acquiring an additional 120,351 shares during the period. Kensington Asset Management LLC increased its position in VanEck IG Floating Rate ETF by 20.6% during the fourth 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, Raymond James Financial Inc. raised its stake in VanEck IG Floating Rate ETF by 11.8% in the 3rd quarter. Raymond James Financial Inc. now owns 1,880,084 shares of the company’s stock worth $48,074,000 after purchasing an additional 199,135 shares in the last quarter.

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.