BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Sees Significant Growth in Short Interest

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 22,922 shares, an increase of 153.1% from the September 30th total of 9,058 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 27,218 shares, the short-interest ratio is presently 0.8 days.

BNY Mellon Ultra Short Income ETF Stock Performance

Shares of BKUI stock traded up $0.02 during trading hours on Friday, reaching $49.67. The company had a trading volume of 12,552 shares, compared to its average volume of 97,474. The business has a fifty day moving average price of $49.59 and a 200-day moving average price of $49.70. BNY Mellon Ultra Short Income ETF has a one year low of $48.50 and a one year high of $49.94.

BNY Mellon Ultra Short Income ETF Cuts Dividend

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

Hedge Funds Weigh In On BNY Mellon Ultra Short Income ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. RPOA Advisors Inc. raised its holdings in BNY Mellon Ultra Short Income ETF by 64.6% during the third quarter. RPOA Advisors Inc. now owns 10,418,139 shares of the company’s stock valued at $516,896,000 after acquiring an additional 4,090,678 shares during the period. Integrity Alliance LLC. bought a new stake in shares of BNY Mellon Ultra Short Income ETF during the third quarter valued at approximately $2,619,000. Flagship Harbor Advisors LLC raised its position in shares of BNY Mellon Ultra Short Income ETF by 221.5% during the third quarter. Flagship Harbor Advisors LLC now owns 32,147 shares of the company’s stock valued at $1,595,000 after buying an additional 22,147 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of 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 buying an additional 17,717 shares in the last quarter. Finally, Overbrook Management Corp purchased a new position in shares of BNY Mellon Ultra Short Income ETF in the third quarter worth $499,000.

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.