BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Hits New 52-Week Low – Here’s Why

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $49.19 and last traded at $49.54, with a volume of 1,111 shares changing hands. The stock had previously closed at $49.55.

BNY Mellon Ultra Short Income ETF Stock Down 0.0%

The business’s fifty day moving average is $49.60 and its 200-day moving average is $49.67.

BNY Mellon Ultra Short Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were given a dividend of $0.1359 per share. This represents a $1.63 annualized dividend and a yield of 3.3%. This is a drop from BNY Mellon Ultra Short Income ETF’s previous monthly dividend of $0.1588. The ex-dividend date was Thursday, October 1st.

Institutional Investors Weigh In On BNY Mellon Ultra Short Income ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Overbrook Management Corp bought a new position in shares of BNY Mellon Ultra Short Income ETF during the 3rd quarter valued at approximately $499,000. Venture Visionary Partners LLC grew its holdings in shares of BNY Mellon Ultra Short Income ETF by 7.7% in the third quarter. Venture Visionary Partners LLC now owns 76,885 shares of the company’s stock valued at $3,815,000 after purchasing an additional 5,524 shares in the last quarter. Envestnet Asset Management Inc. increased its position in BNY Mellon Ultra Short Income ETF by 91.6% in the second quarter. Envestnet Asset Management Inc. now owns 13,988 shares of the company’s stock worth $696,000 after purchasing an additional 6,688 shares during the last quarter. Citadel Advisors LLC increased its position in BNY Mellon Ultra Short Income ETF by 167.8% in the second quarter. Citadel Advisors LLC now owns 28,274 shares of the company’s stock worth $1,407,000 after purchasing an additional 17,717 shares during the last quarter. Finally, Western Wealth Management LLC increased its position in BNY Mellon Ultra Short Income ETF by 17.6% in the first quarter. Western Wealth Management LLC now owns 23,000 shares of the company’s stock worth $1,145,000 after purchasing an additional 3,436 shares during the last quarter.

About BNY Mellon Ultra Short Income ETF

The BNY Mellon Ultra Short Income ETF (BKUI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed portfolio of investment-grade, USD-denominated fixed income securities with an ultra-short effective duration. The fund aims for high income and low volatility. BKUI was launched on Aug 9, 2021 and is managed by BNY Mellon.