Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) Sees Large Decline in Short Interest

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 14,481 shares, a decline of 59.5% from the July 30th total of 35,786 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 113,909 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Pacer Pacific Asset Floating Rate High Income ETF

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Pacer Pacific Asset Floating Rate High Income ETF in the third quarter worth about $141,000. Janney Montgomery Scott LLC purchased a new stake in shares of Pacer Pacific Asset Floating Rate High Income ETF in the 1st quarter worth approximately $222,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Pacer Pacific Asset Floating Rate High Income ETF during the second quarter valued at approximately $240,000. Compass Financial Management LLC purchased a new position in Pacer Pacific Asset Floating Rate High Income ETF during the second quarter valued at approximately $301,000. Finally, BNB Wealth Management LLC purchased a new position in Pacer Pacific Asset Floating Rate High Income ETF during the fourth quarter valued at approximately $388,000.

Pacer Pacific Asset Floating Rate High Income ETF Price Performance

NYSEARCA:FLRT remained flat at $46.66 during midday trading on Friday. The company had a trading volume of 124,214 shares, compared to its average volume of 113,621. The company’s 50 day simple moving average is $46.74 and its 200-day simple moving average is $46.68. The stock has a market capitalization of $660.24 million, a P/E ratio of 10.84 and a beta of 0.13. Pacer Pacific Asset Floating Rate High Income ETF has a 52 week low of $46.00 and a 52 week high of $47.64.

About Pacer Pacific Asset Floating Rate High Income ETF

The Pacer Pacific Asset Floating Rate High Income ETF (FLRT) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund targeting floating-rate debt from non-investment-grade issuers. FLRT was launched on Feb 19, 2015 and is managed by Pacer.