Redmont Wealth Advisors LLC Purchases New Position in VanEck IG Floating Rate ETF $FLTR

Redmont Wealth Advisors LLC acquired a new position in VanEck IG Floating Rate ETF (NYSEARCA:FLTR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,950 shares of the company’s stock, valued at approximately $843,000. VanEck IG Floating Rate ETF comprises approximately 1.2% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLTR. Goldman Sachs Group Inc. purchased a new position in shares of VanEck IG Floating Rate ETF in the first quarter valued at $1,969,000. Sequoia Financial Advisors LLC purchased a new stake in VanEck IG Floating Rate ETF during the second quarter valued at $234,000. Bogart Wealth LLC lifted its position in VanEck IG Floating Rate ETF by 48.3% during the second quarter. Bogart Wealth LLC now owns 1,749 shares of the company’s stock valued at $45,000 after purchasing an additional 570 shares during the last quarter. Brookstone Capital Management grew its stake in shares of VanEck IG Floating Rate ETF by 22.2% in the 2nd quarter. Brookstone Capital Management now owns 17,810 shares of the company’s stock worth $454,000 after buying an additional 3,241 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC increased its holdings in shares of VanEck IG Floating Rate ETF by 15.9% in the 2nd quarter. Strait & Sound Wealth Management LLC now owns 37,717 shares of the company’s stock worth $962,000 after buying an additional 5,169 shares during the last quarter.

VanEck IG Floating Rate ETF Trading Up 0.0%

FLTR opened at $25.56 on Thursday. VanEck IG Floating Rate ETF has a 12 month low of $24.59 and a 12 month high of $25.59. The stock has a 50-day moving average of $25.52 and a 200 day moving average of $25.51.

VanEck IG Floating Rate ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0947 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 4.4%.

VanEck IG Floating Rate ETF 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.