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) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 56,572 shares, a growth of 247.9% from the January 15th total of 16,259 shares. Based on an average daily trading volume, of 97,381 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 97,381 shares, the days-to-cover ratio is presently 0.6 days.

Pacer Pacific Asset Floating Rate High Income ETF Price Performance

Pacer Pacific Asset Floating Rate High Income ETF stock traded down $0.02 during mid-day trading on Wednesday, reaching $47.07. The company had a trading volume of 121,994 shares, compared to its average volume of 105,936. The stock’s 50-day simple moving average is $47.26 and its 200-day simple moving average is $47.34. Pacer Pacific Asset Floating Rate High Income ETF has a 1 year low of $45.06 and a 1 year high of $47.75. The company has a market capitalization of $616.15 million, a P/E ratio of 10.84 and a beta of 0.13.

Pacer Pacific Asset Floating Rate High Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, January 26th. Investors of record on Thursday, January 22nd were paid a $0.1611 dividend. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, January 22nd.

Institutional Trading of Pacer Pacific Asset Floating Rate High Income ETF

A number of institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Pacer Pacific Asset Floating Rate High Income ETF in the third quarter valued at $141,000. Crestwood Advisors Group LLC purchased a new stake in shares of Pacer Pacific Asset Floating Rate High Income ETF in the 3rd quarter worth about $870,000. Ameriflex Group Inc. grew its stake in Pacer Pacific Asset Floating Rate High Income ETF by 171.5% in the 3rd quarter. Ameriflex Group Inc. now owns 21,192 shares of the company’s stock valued at $1,004,000 after acquiring an additional 13,386 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Pacer Pacific Asset Floating Rate High Income ETF in the 4th quarter valued at about $1,290,000. Finally, Price Capital Management Inc. purchased a new position in Pacer Pacific Asset Floating Rate High Income ETF during the 2nd quarter valued at about $1,424,000.

Pacer Pacific Asset Floating Rate High Income ETF Company Profile

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.