VanEck CLO ETF (NYSEARCA:CLOI) Sees Strong Trading Volume – Still a Buy?

Shares of VanEck CLO ETF (NYSEARCA:CLOI) saw unusually-high trading volume on Monday . Approximately 196,647 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 222,018 shares.The stock last traded at $52.8950 and had previously closed at $52.88.

VanEck CLO ETF Price Performance

The firm has a 50-day moving average of $52.87 and a 200 day moving average of $52.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLOI. Fifth Third Bancorp acquired a new position in shares of VanEck CLO ETF during the first quarter valued at $32,000. Wells Fargo & Company MN acquired a new stake in VanEck CLO ETF in the fourth quarter worth about $37,000. Tucker Asset Management LLC grew its position in VanEck CLO ETF by 1,651.2% in the 2nd quarter. Tucker Asset Management LLC now owns 1,506 shares of the company’s stock valued at $80,000 after buying an additional 1,420 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in VanEck CLO ETF in the 2nd quarter valued at about $97,000. Finally, FAS Wealth Partners Inc. grew its position in VanEck CLO ETF by 38.8% in the 1st quarter. FAS Wealth Partners Inc. now owns 2,389 shares of the company’s stock valued at $126,000 after buying an additional 668 shares in the last quarter.

About VanEck CLO ETF

The VanEck CLO ETF (CLOI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to invest in collateralized loan obligations (CLOs) of any maturity. While targeting USD-denominated high-quality CLOs, the fund may still hold high-yield bonds in foreign currency. CLOI was launched on Jun 21, 2022 and is managed by VanEck.