Redmont Wealth Advisors LLC Takes $843,000 Position in VanEck IG Floating Rate ETF $FLTR

Redmont Wealth Advisors LLC purchased a new position in VanEck IG Floating Rate ETF (NYSEARCA:FLTR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 32,950 shares of the company’s stock, valued at approximately $843,000. VanEck IG Floating Rate ETF makes up about 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC grew its stake in shares of VanEck IG Floating Rate ETF by 182.0% in the second quarter. Wealthfront Advisers LLC now owns 5,159,089 shares of the company’s stock worth $131,557,000 after acquiring an additional 3,329,539 shares during the last quarter. Fusion Capital LLC raised its position in shares of VanEck IG Floating Rate ETF by 25.9% in the 3rd quarter. Fusion Capital LLC now owns 1,363,002 shares of the company’s stock worth $34,825,000 after purchasing an additional 280,560 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in VanEck IG Floating Rate ETF by 53.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 512,181 shares of the company’s stock worth $12,851,000 after purchasing an additional 177,757 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in VanEck IG Floating Rate ETF by 2.9% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,272,209 shares of the company’s stock valued at $108,941,000 after purchasing an additional 120,351 shares during the last quarter. Finally, Warner Group LLC purchased a new stake in VanEck IG Floating Rate ETF during the 3rd quarter valued at about $2,378,000.

VanEck IG Floating Rate ETF Stock Performance

NYSEARCA:FLTR opened at $25.56 on Thursday. VanEck IG Floating Rate ETF has a fifty-two week low of $24.59 and a fifty-two week high of $25.59. The firm has a 50-day simple moving average of $25.52 and a two-hundred day simple moving average of $25.51.

VanEck IG Floating Rate ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were given a dividend of $0.0947 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 4.4%.

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.