Kovack Advisors Inc. Reduces Stock Position in VanEck Floating Rate ETF (NYSEARCA:FLTR)

Kovack Advisors Inc. reduced its holdings in shares of VanEck Floating Rate ETF (NYSEARCA:FLTR) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 131,737 shares of the company’s stock after selling 2,201 shares during the quarter. Kovack Advisors Inc.’s holdings in VanEck Floating Rate ETF were worth $3,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Baldwin Brothers LLC MA purchased a new stake in shares of VanEck Floating Rate ETF in the fourth quarter worth $28,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of VanEck Floating Rate ETF during the 4th quarter valued at about $43,000. WealthShield Partners LLC purchased a new position in shares of VanEck Floating Rate ETF during the fourth quarter worth about $60,000. Principal Securities Inc. purchased a new stake in VanEck Floating Rate ETF in the fourth quarter valued at approximately $64,000. Finally, NBC Securities Inc. lifted its position in VanEck Floating Rate ETF by 35.0% during the fourth quarter. NBC Securities Inc. now owns 3,565 shares of the company’s stock valued at $89,000 after purchasing an additional 925 shares during the last quarter.

VanEck Floating Rate ETF Price Performance

Shares of NYSEARCA:FLTR traded up $0.01 during trading on Thursday, reaching $25.39. The company had a trading volume of 389,812 shares, compared to its average volume of 549,341. The company has a fifty day moving average of $25.45 and a two-hundred day moving average of $25.38. VanEck Floating Rate ETF has a 12 month low of $25.08 and a 12 month high of $25.52.

VanEck 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.