Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) Sees Large Increase in Short Interest

Pacer Pacific Asset Floating Rate High Income ETF (NYSEARCA:FLRT) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 111,702 shares, a growth of 118.8% from the August 31st total of 51,062 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 146,173 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new stake in shares of Pacer Pacific Asset Floating Rate High Income ETF in the second quarter valued at $301,000. Nations Financial Group Inc. IA ADV acquired a new position in Pacer Pacific Asset Floating Rate High Income ETF during the 2nd quarter worth about $240,000. Janney Montgomery Scott LLC acquired a new position in Pacer Pacific Asset Floating Rate High Income ETF during the 1st quarter worth about $222,000. Finally, BNB Wealth Management LLC purchased a new position in Pacer Pacific Asset Floating Rate High Income ETF during the 4th quarter valued at about $388,000.

Pacer Pacific Asset Floating Rate High Income ETF Price Performance

Shares of FLRT stock traded up $0.02 during trading hours on Friday, hitting $46.57. The company had a trading volume of 2,561,578 shares, compared to its average volume of 137,992. The stock has a market capitalization of $791.22 million, a PE ratio of 10.84 and a beta of 0.13. The company’s fifty day moving average is $46.75 and its 200 day moving average is $46.69. Pacer Pacific Asset Floating Rate High Income ETF has a fifty-two week low of $46.00 and a fifty-two week high of $47.53.

About Pacer Pacific Asset Floating Rate High Income ETF

The Pacer Pacific Asset Floating Rate High Income ETF (FLRT) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is an actively managed fund targeting floating-rate debt from non-investment-grade issuers. FLRT was launched on Feb 19, 2015 and is managed by Pacer.