AB Ultra Short Income ETF (NYSEARCA:YEAR) Hits New 52-Week Low – Here’s Why

AB Ultra Short Income ETF (NYSEARCA:YEAR)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $50.29 and last traded at $50.31, with a volume of 8330 shares. The stock had previously closed at $50.43.

AB Ultra Short Income ETF Price Performance

The company’s 50-day simple moving average is $50.50 and its 200-day simple moving average is $50.56.

AB Ultra Short Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Investors of record on Monday, March 2nd were issued a $0.1653 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On AB Ultra Short Income ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC boosted its position in shares of AB Ultra Short Income ETF by 2.1% in the 4th quarter. IHT Wealth Management LLC now owns 421,433 shares of the company’s stock valued at $21,274,000 after purchasing an additional 8,714 shares during the period. Claro Advisors Inc. raised its holdings in AB Ultra Short Income ETF by 64.4% during the 4th quarter. Claro Advisors Inc. now owns 8,903 shares of the company’s stock worth $449,000 after buying an additional 3,488 shares during the period. Cetera Investment Advisers raised its holdings in AB Ultra Short Income ETF by 138.5% during the 4th quarter. Cetera Investment Advisers now owns 40,284 shares of the company’s stock worth $2,034,000 after buying an additional 23,396 shares during the period. Equitable Holdings Inc. lifted its stake in AB Ultra Short Income ETF by 13.0% during the fourth quarter. Equitable Holdings Inc. now owns 20,289 shares of the company’s stock valued at $1,024,000 after buying an additional 2,338 shares in the last quarter. Finally, Legacy Wealth Advisors LLC purchased a new stake in AB Ultra Short Income ETF during the fourth quarter valued at about $3,863,000.

AB Ultra Short Income ETF Company Profile

The Ab Ultra Short Income ETF (YEAR) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed ETF that provides exposure to government and corporate ultra-short-term bonds from the United States. The fund seeks to maintain a dollar-weighted average duration of less than one year. YEAR was launched on Sep 14, 2022 and is managed by AB Funds.