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

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 83,103 shares, a growth of 648.7% from the June 15th total of 11,099 shares. Based on an average daily volume of 91,932 shares, the short-interest ratio is currently 0.9 days. Approximately 0.6% of the company’s shares are short sold.

Pacer Pacific Asset Floating Rate High Income ETF Stock Down 0.0%

NYSEARCA:FLRT traded down $0.02 during trading hours on Monday, hitting $46.71. 5,487 shares of the stock were exchanged, compared to its average volume of 111,425. The company has a market capitalization of $637.59 million, a P/E ratio of 10.84 and a beta of 0.13. The company’s 50 day moving average is $46.80 and its two-hundred day moving average is $46.79. Pacer Pacific Asset Floating Rate High Income ETF has a twelve month low of $46.00 and a twelve month high of $47.68.

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

Several hedge funds have recently added to or reduced their stakes in FLRT. Sunbelt Securities Inc. bought a new stake in Pacer Pacific Asset Floating Rate High Income ETF during the 3rd quarter worth about $141,000. Janney Montgomery Scott LLC bought a new position in shares of Pacer Pacific Asset Floating Rate High Income ETF in the 1st quarter valued at about $222,000. BNB Wealth Management LLC bought a new position in shares of Pacer Pacific Asset Floating Rate High Income ETF in the 4th quarter valued at about $388,000. Crestwood Advisors Group LLC grew its position in shares of Pacer Pacific Asset Floating Rate High Income ETF by 48.9% during the 4th quarter. Crestwood Advisors Group LLC now owns 27,324 shares of the company’s stock worth $1,288,000 after buying an additional 8,976 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in shares of Pacer Pacific Asset Floating Rate High Income ETF during the 4th quarter worth approximately $1,290,000.

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.