VanEck Floating Rate ETF (NYSEARCA:FLTR) Reaches New 12-Month Low – Time to Sell?

VanEck Floating Rate ETF (NYSEARCA:FLTR)’s stock price reached a new 52-week low during mid-day trading on Saturday . The stock traded as low as $24.85 and last traded at $24.96, with a volume of 6111625 shares traded. The stock had previously closed at $25.39.

VanEck Floating Rate ETF Price Performance

The stock has a fifty day moving average price of $25.50 and a 200 day moving average price of $25.48.

Institutional Investors Weigh In On VanEck Floating Rate ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC increased its holdings in shares of VanEck Floating Rate ETF by 3,267.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 11,667,315 shares of the company’s stock worth $296,933,000 after purchasing an additional 11,320,822 shares during the period. Demars Financial Group LLC grew its position in VanEck Floating Rate ETF by 2,317.3% during the fourth quarter. Demars Financial Group LLC now owns 5,409,368 shares of the company’s stock worth $137,668,000 after buying an additional 5,185,595 shares in the last quarter. LPL Financial LLC grew its position in VanEck Floating Rate ETF by 33.6% during the fourth quarter. LPL Financial LLC now owns 3,074,762 shares of the company’s stock worth $78,253,000 after buying an additional 772,961 shares in the last quarter. Wells Fargo & Company MN increased its stake in VanEck Floating Rate ETF by 8.5% in the 4th quarter. Wells Fargo & Company MN now owns 3,035,743 shares of the company’s stock worth $77,260,000 after acquiring an additional 238,666 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of VanEck Floating Rate ETF by 31.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,847,800 shares of the company’s stock valued at $47,027,000 after acquiring an additional 445,800 shares in the last quarter.

About VanEck Floating Rate ETF

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.