VanEck IG Floating Rate ETF (NYSEARCA:FLTR) Reaches New 52-Week High – Still a Buy?

VanEck IG Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $25.59 and last traded at $25.56, with a volume of 502848 shares. The stock had previously closed at $25.55.

VanEck IG Floating Rate ETF Trading Up 0.1%

The stock’s 50-day simple moving average is $25.52 and its two-hundred day simple moving average is $25.51.

Institutional Trading of VanEck IG Floating Rate ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. purchased a new position in VanEck IG Floating Rate ETF in the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of VanEck IG Floating Rate ETF by 103.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the company’s stock valued at $26,000 after acquiring an additional 516 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of VanEck IG Floating Rate ETF during the fourth quarter valued at approximately $30,000. Assetmark Inc. lifted its position in shares of VanEck IG Floating Rate ETF by 126.6% in the first quarter. Assetmark Inc. now owns 1,659 shares of the company’s stock valued at $42,000 after acquiring an additional 927 shares in the last quarter. Finally, Family Management Corp purchased a new position in shares of VanEck IG Floating Rate ETF in the third quarter valued at 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.