VanEck Floating Rate ETF (NYSEARCA:FLTR) Hits New 12-Month High – Time to Buy?

VanEck Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high on Thursday . The company traded as high as $25.56 and last traded at $25.55, with a volume of 57462 shares trading hands. The stock had previously closed at $25.55.

VanEck Floating Rate ETF Stock Down 0.0 %

The company has a fifty day moving average of $25.49 and a 200-day moving average of $25.45.

Hedge Funds Weigh In On VanEck Floating Rate ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLTR. Raymond James & Associates boosted its stake in shares of VanEck Floating Rate ETF by 11.1% in the 3rd quarter. Raymond James & Associates now owns 263,795 shares of the company’s stock valued at $6,719,000 after buying an additional 26,364 shares during the period. Leo Wealth LLC acquired a new position in VanEck Floating Rate ETF during the 3rd quarter worth approximately $324,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of VanEck Floating Rate ETF by 71.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,000 shares of the company’s stock valued at $306,000 after purchasing an additional 5,000 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of VanEck Floating Rate ETF in the 3rd quarter valued at $248,000. Finally, ShoreHaven Wealth Partners LLC purchased a new stake in shares of VanEck Floating Rate ETF during the 3rd quarter worth $301,000.

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.