VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Sees Large Growth in Short Interest

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 1,809,627 shares, an increase of 737.5% from the April 30th total of 216,072 shares. Based on an average daily volume of 947,121 shares, the short-interest ratio is currently 1.9 days. Currently, 1.7% of the company’s shares are short sold.

VanEck IG Floating Rate ETF Price Performance

FLTR opened at $25.57 on Thursday. The stock’s 50-day moving average price is $25.48 and its 200 day moving average price is $25.50. VanEck IG Floating Rate ETF has a 12-month low of $25.34 and a 12-month high of $25.59.

Hedge Funds Weigh In On VanEck IG Floating Rate ETF

Several hedge funds have recently bought and sold shares of the company. Kensington Asset Management LLC lifted its stake in VanEck IG Floating Rate ETF by 15.4% during the 1st 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 in the last quarter. Royal Fund Management LLC lifted its stake in VanEck IG Floating Rate ETF by 6.7% during the 1st quarter. Royal Fund Management LLC now owns 36,400 shares of the company’s stock worth $927,000 after acquiring an additional 2,282 shares in the last quarter. Bank of America Corp DE lifted its stake in VanEck IG Floating Rate ETF by 7.9% during the 1st 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 in the last quarter. Arkadios Wealth Advisors lifted its stake in VanEck IG Floating Rate ETF by 6.6% during the 1st quarter. Arkadios Wealth Advisors now owns 50,275 shares of the company’s stock worth $1,281,000 after acquiring an additional 3,131 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in VanEck IG Floating Rate ETF by 103.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the company’s stock worth $26,000 after acquiring an additional 516 shares in 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.