VanEck Floating Rate ETF (NYSEARCA:FLTR) Sees Strong Trading Volume – Should You Buy?

VanEck Floating Rate ETF (NYSEARCA:FLTR) shares saw unusually-high trading volume on Thursday . Approximately 1,186,365 shares traded hands during trading, an increase of 68% from the previous session’s volume of 704,233 shares.The stock last traded at $25.43 and had previously closed at $25.45.

VanEck Floating Rate ETF Stock Performance

The company has a fifty day moving average price of $25.47 and a two-hundred day moving average price of $25.44.

Institutional Investors Weigh In On VanEck Floating Rate ETF

Several institutional investors have recently added to or reduced their stakes in FLTR. Strategic Financial Concepts LLC acquired a new position in VanEck Floating Rate ETF during the second quarter worth $158,758,000. Renaissance Technologies LLC boosted its stake in shares of VanEck Floating Rate ETF by 61.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,542,400 shares of the company’s stock worth $39,347,000 after buying an additional 588,300 shares during the last quarter. LPL Financial LLC grew its holdings in shares of VanEck Floating Rate ETF by 36.4% in the 2nd quarter. LPL Financial LLC now owns 2,141,838 shares of the company’s stock valued at $54,638,000 after acquiring an additional 571,178 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in VanEck Floating Rate ETF by 108.7% during the second quarter. Envestnet Asset Management Inc. now owns 949,370 shares of the company’s stock worth $24,218,000 after acquiring an additional 494,368 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in VanEck Floating Rate ETF during the third quarter valued at approximately $7,772,000.

VanEck 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.