Summit Portfolio Management LTD. Buys New Shares in iShares Floating Rate Bond ETF $FLOT

Summit Portfolio Management LTD. bought a new position in iShares Floating Rate Bond ETF (BATS:FLOT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 222,056 shares of the company’s stock, valued at approximately $11,314,000. iShares Floating Rate Bond ETF comprises 7.3% of Summit Portfolio Management LTD.’s portfolio, making the stock its 5th largest position. Summit Portfolio Management LTD. owned approximately 0.13% of iShares Floating Rate Bond ETF as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLOT. Evolution Wealth Management Inc. acquired a new position in shares of iShares Floating Rate Bond ETF in the first quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of iShares Floating Rate Bond ETF in the fourth quarter worth about $30,000. Quarry LP acquired a new stake in shares of iShares Floating Rate Bond ETF during the fourth quarter worth about $36,000. Tucker Asset Management LLC acquired a new stake in shares of iShares Floating Rate Bond ETF during the fourth quarter worth about $37,000. Finally, Bayban purchased a new stake in iShares Floating Rate Bond ETF in the fourth quarter valued at approximately $37,000.

iShares Floating Rate Bond ETF Stock Performance

Shares of BATS FLOT opened at $50.95 on Thursday. iShares Floating Rate Bond ETF has a 52 week low of $50.67 and a 52 week high of $51.09. The business’s 50 day moving average price is $50.97 and its 200 day moving average price is $50.93.

About iShares Floating Rate Bond ETF

The iShares Floating Rate Bond ETF (FLOT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of USD-denominated, investment-grade floating rate notes with maturities of 0-5 years. FLOT was launched on Jun 14, 2011 and is managed by BlackRock.