VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Reaches New 1-Year High – Should You Buy?

Shares of VanEck IG Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.61 and last traded at $25.61, with a volume of 42189 shares. The stock had previously closed at $25.59.

VanEck IG Floating Rate ETF Stock Performance

The company’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $25.53.

Institutional Trading of VanEck IG Floating Rate ETF

A number of hedge funds and other institutional investors have recently modified their holdings of FLTR. Whittier Trust Co. bought a new position in shares of VanEck IG Floating Rate ETF during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of VanEck IG Floating Rate ETF by 103.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the company’s stock valued at $26,000 after buying an additional 516 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in VanEck IG Floating Rate ETF during the 4th quarter valued at about $30,000. Assetmark Inc. grew its position in VanEck IG Floating Rate ETF by 126.6% during the first quarter. Assetmark Inc. now owns 1,659 shares of the company’s stock valued at $42,000 after purchasing an additional 927 shares in the last quarter. Finally, Family Management Corp purchased a new position in shares of VanEck IG Floating Rate ETF during the 3rd quarter valued at $45,000.

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.