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

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) was the recipient of a large increase in short interest in 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 trading 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Kensington Asset Management LLC grew 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 buying an additional 399,928 shares during the last quarter. Royal Fund Management LLC grew 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 buying an additional 2,282 shares during the last quarter. Bank of America Corp DE grew 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 buying an additional 123,390 shares during the last quarter. Arkadios Wealth Advisors grew 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 buying an additional 3,131 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 516 shares during the last quarter.

VanEck IG Floating Rate ETF Stock Performance

Shares of NYSEARCA FLTR opened at $25.57 on Thursday. The stock’s 50-day moving average is $25.48 and its two-hundred day moving average is $25.50. VanEck IG Floating Rate ETF has a 1-year low of $25.34 and a 1-year high of $25.59.

About VanEck IG Floating Rate ETF

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.