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

Shares of VanEck Floating Rate ETF (NYSEARCA:FLTR) hit a new 52-week high during trading on Wednesday . The company traded as high as $25.52 and last traded at $25.50, with a volume of 768828 shares traded. The stock had previously closed at $25.50.

VanEck Floating Rate ETF Price Performance

The company has a 50-day moving average price of $25.42 and a 200-day moving average price of $25.43.

Institutional Trading of VanEck Floating Rate ETF

Several hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. grew its stake in shares of VanEck Floating Rate ETF by 8.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,633 shares of the company’s stock worth $169,000 after acquiring an additional 494 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of VanEck Floating Rate ETF by 1.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 45,691 shares of the company’s stock valued at $1,156,000 after acquiring an additional 649 shares in the last quarter. Van ECK Associates Corp raised its holdings in VanEck Floating Rate ETF by 294.7% during the second quarter. Van ECK Associates Corp now owns 1,042 shares of the company’s stock worth $27,000 after acquiring an additional 778 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in VanEck Floating Rate ETF by 2.5% during the first quarter. Valley Wealth Managers Inc. now owns 37,018 shares of the company’s stock valued at $944,000 after purchasing an additional 908 shares during the last quarter. Finally, Stonebridge Financial Planning Group LLC boosted its position in VanEck Floating Rate ETF by 9.6% during the second quarter. Stonebridge Financial Planning Group LLC now owns 11,633 shares of the company’s stock valued at $297,000 after purchasing an additional 1,020 shares during the last quarter.

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.