VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Sees Large Decline in Short Interest

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 473,411 shares, a decrease of 46.5% from the February 26th total of 884,234 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 682,656 shares, the short-interest ratio is presently 0.7 days.

VanEck IG Floating Rate ETF Stock Down 0.1%

VanEck IG Floating Rate ETF stock traded down $0.02 during midday trading on Friday, reaching $25.44. The stock had a trading volume of 2,811,190 shares, compared to its average volume of 822,534. The firm’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $25.51. VanEck IG Floating Rate ETF has a 1-year low of $24.59 and a 1-year high of $25.59.

VanEck IG Floating Rate ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a $0.086 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLTR. CIBC Private Wealth Group LLC acquired a new position in VanEck IG Floating Rate ETF during the fourth quarter valued at approximately $30,000. Ameritas Advisory Services LLC acquired a new position in shares of VanEck IG Floating Rate ETF during the 3rd quarter worth approximately $38,000. Tsfg LLC bought a new stake in shares of VanEck IG Floating Rate ETF during the 3rd quarter worth approximately $39,000. Family Management Corp acquired a new stake in shares of VanEck IG Floating Rate ETF in the 3rd quarter valued at approximately $45,000. Finally, CWM LLC boosted its holdings in shares of VanEck IG Floating Rate ETF by 554.3% in the 3rd quarter. CWM LLC now owns 1,819 shares of the company’s stock valued at $47,000 after buying an additional 1,541 shares during the last quarter.

VanEck IG Floating Rate ETF Company Profile

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.