AB Ultra Short Income ETF (NYSEARCA:YEAR) Hits New 52-Week Low – Here’s Why

AB Ultra Short Income ETF (NYSEARCA:YEAR) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $50.29 and last traded at $50.31, with a volume of 8330 shares traded. The stock had previously closed at $50.43.

AB Ultra Short Income ETF Trading Down 0.3%

The stock’s 50-day moving average is $50.50 and its 200 day moving average is $50.56.

AB Ultra Short Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.1653 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%.

Hedge Funds Weigh In On AB Ultra Short Income ETF

A number of hedge funds have recently modified their holdings of YEAR. N.E.W. Advisory Services LLC purchased a new stake in shares of AB Ultra Short Income ETF during the fourth quarter worth $73,000. Colonial Trust Advisors grew its stake in AB Ultra Short Income ETF by 59.7% in the fourth quarter. Colonial Trust Advisors now owns 2,675 shares of the company’s stock valued at $135,000 after purchasing an additional 1,000 shares in the last quarter. Rothschild Investment LLC grew its stake in AB Ultra Short Income ETF by 25.2% in the fourth quarter. Rothschild Investment LLC now owns 4,975 shares of the company’s stock valued at $251,000 after purchasing an additional 1,000 shares in the last quarter. Sun Financial Inc acquired a new position in AB Ultra Short Income ETF in the 4th quarter worth about $254,000. Finally, Centerpoint Advisory Group acquired a new position in AB Ultra Short Income ETF in the 4th quarter worth about $254,000.

AB Ultra Short Income ETF Company Profile

The Ab Ultra Short Income ETF (YEAR) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed ETF that provides exposure to government and corporate ultra-short-term bonds from the United States. The fund seeks to maintain a dollar-weighted average duration of less than one year. YEAR was launched on Sep 14, 2022 and is managed by AB Funds.