Short Interest in Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) Decreases By 72.4%

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 22,965 shares, a drop of 72.4% from the June 30th total of 83,103 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 89,457 shares, the days-to-cover ratio is currently 0.3 days.

Pacer Pacific Asset Floating Rate High Income ETF Stock Performance

NYSEARCA FLRT remained flat at $46.59 on Monday. 143,747 shares of the company’s stock were exchanged, compared to its average volume of 110,610. The firm has a market cap of $656.45 million, a PE ratio of 10.84 and a beta of 0.13. Pacer Pacific Asset Floating Rate High Income ETF has a twelve month low of $46.00 and a twelve month high of $47.64. The stock has a 50 day moving average price of $46.79 and a 200-day moving average price of $46.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in shares of Pacer Pacific Asset Floating Rate High Income ETF by 1.8% in the fourth quarter. NewEdge Advisors LLC now owns 186,596 shares of the company’s stock valued at $8,795,000 after purchasing an additional 3,272 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Pacer Pacific Asset Floating Rate High Income ETF by 5.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 96,770 shares of the company’s stock valued at $4,561,000 after buying an additional 5,204 shares in the last quarter. PSI Advisors LLC lifted its position in shares of Pacer Pacific Asset Floating Rate High Income ETF by 4.6% during the fourth quarter. PSI Advisors LLC now owns 54,166 shares of the company’s stock worth $2,553,000 after purchasing an additional 2,363 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Pacer Pacific Asset Floating Rate High Income ETF in the fourth quarter worth $1,290,000. Finally, Crestwood Advisors Group LLC boosted its stake in shares of Pacer Pacific Asset Floating Rate High Income ETF by 48.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 27,324 shares of the company’s stock valued at $1,288,000 after buying an additional 8,976 shares during the period.

About Pacer Pacific Asset Floating Rate High Income ETF

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.