Short Interest in VanEck CLO ETF (NYSEARCA:CLOI) Drops By 53.6%

VanEck CLO ETF (NYSEARCA:CLOI) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 138,033 shares, a decline of 53.6% from the June 30th total of 297,228 shares. Based on an average daily trading volume, of 207,482 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On VanEck CLO ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments LLC bought a new position in VanEck CLO ETF during the 4th quarter worth about $31,530,000. LPL Financial LLC boosted its position in shares of VanEck CLO ETF by 26.1% during the fourth quarter. LPL Financial LLC now owns 2,027,584 shares of the company’s stock worth $107,077,000 after buying an additional 419,749 shares during the period. Independence Asset Advisors LLC boosted its position in shares of VanEck CLO ETF by 17.2% during the first quarter. Independence Asset Advisors LLC now owns 1,863,451 shares of the company’s stock worth $98,203,000 after buying an additional 273,532 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of VanEck CLO ETF during the fourth quarter worth about $13,582,000. Finally, Darwin Wealth Management LLC bought a new position in shares of VanEck CLO ETF during the second quarter worth about $13,048,000.

VanEck CLO ETF Stock Up 0.0%

Shares of VanEck CLO ETF stock traded up $0.02 on Tuesday, hitting $52.94. The company had a trading volume of 144,689 shares, compared to its average volume of 222,170. The stock has a 50-day moving average of $52.86 and a 200-day moving average of $52.79. VanEck CLO ETF has a twelve month low of $52.36 and a twelve month high of $53.15.

About VanEck CLO ETF

The VanEck CLO ETF (CLOI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to invest in collateralized loan obligations (CLOs) of any maturity. While targeting USD-denominated high-quality CLOs, the fund may still hold high-yield bonds in foreign currency. CLOI was launched on Jun 21, 2022 and is managed by VanEck.