BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Sees Large Volume Increase – Should You Buy?

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) saw an uptick in trading volume on Monday . 351,503 shares changed hands during mid-day trading, an increase of 148% from the previous session’s volume of 141,918 shares.The stock last traded at $49.68 and had previously closed at $49.66.

BNY Mellon Ultra Short Income ETF Stock Performance

The company has a 50-day moving average of $49.79 and a two-hundred day moving average of $49.83.

BNY Mellon Ultra Short Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.1599 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On BNY Mellon Ultra Short Income ETF

Several hedge funds have recently bought and sold shares of the business. PCG Wealth Advisors LLC boosted its stake in BNY Mellon Ultra Short Income ETF by 1.2% during the fourth quarter. PCG Wealth Advisors LLC now owns 34,762 shares of the company’s stock worth $1,729,000 after acquiring an additional 423 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of BNY Mellon Ultra Short Income ETF during the second quarter valued at approximately $31,000. Raymond James Financial Inc. purchased a new position in shares of BNY Mellon Ultra Short Income ETF during the second quarter valued at approximately $138,000. Kensington Asset Management LLC boosted its position in shares of BNY Mellon Ultra Short Income ETF by 2.2% in the 3rd quarter. Kensington Asset Management LLC now owns 138,713 shares of the company’s stock worth $6,927,000 after purchasing an additional 3,010 shares in the last quarter. Finally, Q3 Asset Management bought a new stake in shares of BNY Mellon Ultra Short Income ETF in the 4th quarter worth approximately $205,000.

About BNY Mellon Ultra Short Income ETF

The BNY Mellon Ultra Short Income ETF (BKUI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed portfolio of investment-grade, USD-denominated fixed income securities with an ultra-short effective duration. The fund aims for high income and low volatility. BKUI was launched on Aug 9, 2021 and is managed by BNY Mellon.