BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Reaches New 52-Week Low – Time to Sell?

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) shares reached a new 52-week low on Wednesday . The company traded as low as $49.53 and last traded at $49.5550, with a volume of 614 shares. The stock had previously closed at $49.56.

BNY Mellon Ultra Short Income ETF Stock Performance

The company has a fifty day moving average price of $49.65 and a 200-day moving average price of $49.70.

BNY Mellon Ultra Short Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, August 3rd were paid a $0.1741 dividend. The ex-dividend date was Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 4.2%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. RPOA Advisors Inc. raised its stake in shares of BNY Mellon Ultra Short Income ETF by 896.0% in the 1st quarter. RPOA Advisors Inc. now owns 6,312,334 shares of the company’s stock valued at $314,260,000 after acquiring an additional 5,678,543 shares in the last quarter. Citadel Advisors LLC lifted its holdings in BNY Mellon Ultra Short Income ETF by 167.8% in the 2nd quarter. Citadel Advisors LLC now owns 28,274 shares of the company’s stock worth $1,407,000 after purchasing an additional 17,717 shares during the last quarter. Krilogy Financial LLC bought a new stake in BNY Mellon Ultra Short Income ETF during the first quarter worth approximately $397,000. Western Wealth Management LLC boosted its position in BNY Mellon Ultra Short Income ETF by 17.6% during the first quarter. Western Wealth Management LLC now owns 23,000 shares of the company’s stock worth $1,145,000 after purchasing an additional 3,436 shares during the period. Finally, Private Advisor Group LLC grew its holdings in BNY Mellon Ultra Short Income ETF by 11.3% during the first quarter. Private Advisor Group LLC now owns 18,920 shares of the company’s stock valued at $942,000 after purchasing an additional 1,915 shares during the last quarter.

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.