VanEck Floating Rate ETF (NYSEARCA:FLTR) Sees Unusually-High Trading Volume – Should You Buy?

VanEck Floating Rate ETF (NYSEARCA:FLTR) saw unusually-high trading volume on Friday . Approximately 1,080,478 shares were traded during trading, an increase of 65% from the previous session’s volume of 653,885 shares.The stock last traded at $25.50 and had previously closed at $25.47.

VanEck Floating Rate ETF Stock Performance

The business’s 50 day simple moving average is $25.41 and its two-hundred day simple moving average is $25.43.

Hedge Funds Weigh In On VanEck Floating Rate ETF

A number of hedge funds have recently added to or reduced their stakes in FLTR. BNP Paribas Financial Markets boosted its stake in shares of VanEck Floating Rate ETF by 18,220.1% in the 1st quarter. BNP Paribas Financial Markets now owns 25,465 shares of the company’s stock worth $650,000 after buying an additional 25,326 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of VanEck Floating Rate ETF by 5.2% in the first quarter. Janney Montgomery Scott LLC now owns 24,955 shares of the company’s stock worth $637,000 after buying an additional 1,227 shares during the last quarter. Park Avenue Securities LLC bought a new stake in VanEck Floating Rate ETF during the second quarter valued at approximately $1,091,000. KFA Private Wealth Group LLC increased its holdings in VanEck Floating Rate ETF by 5.8% during the first quarter. KFA Private Wealth Group LLC now owns 970,195 shares of the company’s stock valued at $24,750,000 after buying an additional 53,561 shares during the last quarter. Finally, MGO One Seven LLC raised its position in VanEck Floating Rate ETF by 14.4% in the second quarter. MGO One Seven LLC now owns 93,182 shares of the company’s stock worth $2,377,000 after acquiring an additional 11,753 shares during the period.

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.