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

AB Ultra Short Income ETF (NYSEARCA:YEAR) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $50.06 and last traded at $50.06, with a volume of 21048 shares trading hands. The stock had previously closed at $50.10.

AB Ultra Short Income ETF Stock Performance

The business’s fifty day moving average price is $50.22 and its 200 day moving average price is $50.30.

Institutional Investors Weigh In On AB Ultra Short Income ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in shares of AB Ultra Short Income ETF in the second quarter worth approximately $2,146,000. Concurrent Investment Advisors LLC lifted its position in shares of AB Ultra Short Income ETF by 101.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 54,582 shares of the company’s stock worth $2,748,000 after purchasing an additional 27,526 shares during the period. Cooper Financial Group boosted its stake in shares of AB Ultra Short Income ETF by 11.4% in the 2nd quarter. Cooper Financial Group now owns 72,257 shares of the company’s stock valued at $3,637,000 after purchasing an additional 7,405 shares during the last quarter. Kensington Asset Management LLC increased its position in shares of AB Ultra Short Income ETF by 39.6% during the first quarter. Kensington Asset Management LLC now owns 719,794 shares of the company’s stock worth $36,332,000 after buying an additional 204,197 shares during the period. Finally, Bank of America Corp DE increased its position in shares of AB Ultra Short Income ETF by 344.0% during the first quarter. Bank of America Corp DE now owns 235,501 shares of the company’s stock worth $11,887,000 after buying an additional 182,456 shares during the period.

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.