VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of VanEck IG Floating Rate ETF (NYSEARCA:FLTR) saw an uptick in trading volume on Wednesday . 2,195,650 shares traded hands during mid-day trading, an increase of 170% from the previous session’s volume of 811,801 shares.The stock last traded at $25.57 and had previously closed at $25.57.

VanEck IG Floating Rate ETF Price Performance

The company has a 50-day simple moving average of $25.48 and a 200-day simple moving average of $25.50.

Hedge Funds Weigh In On VanEck IG Floating Rate ETF

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in VanEck IG Floating Rate ETF by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,539,629 shares of the company’s stock valued at $115,670,000 after purchasing an additional 37,828 shares during the last quarter. Kensington Asset Management LLC raised its position in shares of VanEck IG Floating Rate ETF by 15.4% during the first quarter. Kensington Asset Management LLC now owns 2,989,379 shares of the company’s stock worth $76,169,000 after acquiring an additional 399,928 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of VanEck IG Floating Rate ETF by 11.8% during the third quarter. Raymond James Financial Inc. now owns 1,880,084 shares of the company’s stock worth $48,074,000 after acquiring an additional 199,135 shares during the last quarter. Bank of America Corp DE raised its position in shares of VanEck IG Floating Rate ETF by 7.9% during the first quarter. Bank of America Corp DE now owns 1,694,850 shares of the company’s stock worth $43,185,000 after acquiring an additional 123,390 shares during the last quarter. Finally, Fusion Capital LLC raised its position in shares of VanEck IG Floating Rate ETF by 3.6% during the fourth quarter. Fusion Capital LLC now owns 1,412,133 shares of the company’s stock worth $35,981,000 after acquiring an additional 49,131 shares during the last quarter.

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.