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

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 1,833,411 shares, a drop of 40.9% from the July 15th total of 3,099,754 shares. Based on an average daily volume of 1,373,087 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.6% of the company’s shares are short sold.

VanEck IG Floating Rate ETF Price Performance

Shares of NYSEARCA:FLTR opened at $25.55 on Monday. The business has a fifty day simple moving average of $25.56 and a 200-day simple moving average of $25.52. VanEck IG Floating Rate ETF has a 52 week low of $25.34 and a 52 week high of $25.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. acquired a new stake in shares of VanEck IG Floating Rate ETF in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in VanEck IG Floating Rate ETF by 103.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the company’s stock valued at $26,000 after purchasing an additional 516 shares during the period. CIBC Private Wealth Group LLC acquired a new position in VanEck IG Floating Rate ETF during the fourth quarter worth approximately $30,000. Assetmark Inc. raised its stake 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 worth $42,000 after purchasing an additional 927 shares during the period. Finally, Family Management Corp purchased a new position in VanEck IG Floating Rate ETF during the third quarter worth approximately $45,000.

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.