VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Hits New 12-Month High – Still a Buy?

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.59 and last traded at $25.5850, with a volume of 797205 shares traded. The stock had previously closed at $25.57.

VanEck IG Floating Rate ETF Price Performance

The stock has a 50 day simple moving average of $25.52 and a two-hundred day simple moving average of $25.51.

VanEck IG Floating Rate ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a dividend of $0.0947 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new stake in VanEck IG Floating Rate ETF in the 4th quarter valued at about $30,000. Spire Wealth Management lifted its position in shares of VanEck IG Floating Rate ETF by 1,058.0% in the second quarter. Spire Wealth Management now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 1,185 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of VanEck IG Floating Rate ETF during the 3rd quarter worth approximately $38,000. Tsfg LLC acquired a new position in shares of VanEck IG Floating Rate ETF during the 3rd quarter worth approximately $39,000. Finally, Family Management Corp acquired a new position in shares of VanEck IG Floating Rate ETF during the 3rd quarter worth approximately $45,000.

VanEck IG Floating Rate ETF Company Profile

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.