VanEck Floating Rate ETF (NYSEARCA:FLTR) Sets New 12-Month High – Should You Buy?

VanEck Floating Rate ETF (NYSEARCA:FLTR)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $25.58 and last traded at $25.57, with a volume of 828065 shares trading hands. The stock had previously closed at $25.57.

VanEck Floating Rate ETF Stock Performance

The stock’s fifty day simple moving average is $25.50 and its 200-day simple moving average is $25.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLTR. Strategic Financial Concepts LLC boosted its position in VanEck Floating Rate ETF by 3,267.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 11,667,315 shares of the company’s stock worth $296,933,000 after purchasing an additional 11,320,822 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of VanEck Floating Rate ETF by 2,317.3% in the 4th quarter. Demars Financial Group LLC now owns 5,409,368 shares of the company’s stock worth $137,668,000 after buying an additional 5,185,595 shares during the last quarter. Raymond James Financial Inc. bought a new position in VanEck Floating Rate ETF during the fourth quarter valued at about $25,659,000. LPL Financial LLC grew its position in VanEck Floating Rate ETF by 33.6% during the fourth quarter. LPL Financial LLC now owns 3,074,762 shares of the company’s stock valued at $78,253,000 after buying an additional 772,961 shares during the period. Finally, Ocean Park Asset Management LLC purchased a new stake in VanEck Floating Rate ETF during the fourth quarter worth about $14,932,000.

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.