VanEck Floating Rate ETF (NYSEARCA:FLTR) Reaches New 52-Week High – Should You Buy?

VanEck Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.52 and last traded at $25.50, with a volume of 768828 shares. The stock had previously closed at $25.50.

VanEck Floating Rate ETF Price Performance

The firm’s 50 day moving average is $25.42 and its 200 day moving average is $25.43.

Hedge Funds Weigh In On VanEck Floating Rate ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of VanEck Floating Rate ETF by 18,220.1% during the first quarter. BNP Paribas Financial Markets now owns 25,465 shares of the company’s stock valued at $650,000 after acquiring an additional 25,326 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of VanEck Floating Rate ETF by 5.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,955 shares of the company’s stock worth $637,000 after purchasing an additional 1,227 shares during the period. KFA Private Wealth Group LLC boosted its stake in shares of VanEck Floating Rate ETF by 5.8% during the 1st quarter. KFA Private Wealth Group LLC now owns 970,195 shares of the company’s stock valued at $24,750,000 after purchasing an additional 53,561 shares in the last quarter. Valley Wealth Managers Inc. increased its position in shares of VanEck Floating Rate ETF by 2.5% during the first quarter. Valley Wealth Managers Inc. now owns 37,018 shares of the company’s stock valued at $944,000 after buying an additional 908 shares during the period. Finally, PFG Advisors raised its stake in VanEck Floating Rate ETF by 6.9% in the first quarter. PFG Advisors now owns 26,260 shares of the company’s stock worth $670,000 after buying an additional 1,702 shares in the last quarter.

About VanEck 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.