BNY Mellon Core Bond ETF (NYSEARCA:BKAG) Hits New 1-Year Low – Should You Sell?

BNY Mellon Core Bond ETF (NYSEARCA:BKAG)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $40.01 and last traded at $40.0150, with a volume of 29101 shares changing hands. The stock had previously closed at $40.10.

BNY Mellon Core Bond ETF Price Performance

The firm has a fifty day moving average of $41.06 and a 200 day moving average of $41.61.

BNY Mellon Core Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st will be paid a $0.2430 dividend. This is a boost from BNY Mellon Core Bond ETF’s previous monthly dividend of $0.1406. This represents a $2.92 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Thursday, October 1st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in BNY Mellon Core Bond ETF by 88.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,280,228 shares of the company’s stock worth $222,826,000 after purchasing an additional 2,474,687 shares during the period. Talon Private Wealth LLC boosted its stake in shares of BNY Mellon Core Bond ETF by 2.0% in the 2nd quarter. Talon Private Wealth LLC now owns 1,225,426 shares of the company’s stock worth $51,407,000 after buying an additional 24,561 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of BNY Mellon Core Bond ETF by 13.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,084,875 shares of the company’s stock worth $46,037,000 after acquiring an additional 126,686 shares during the period. Brookstone Capital Management grew its holdings in shares of BNY Mellon Core Bond ETF by 1.2% in the first quarter. Brookstone Capital Management now owns 998,424 shares of the company’s stock worth $42,134,000 after acquiring an additional 12,013 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of BNY Mellon Core Bond ETF by 4.3% in the second quarter. Integrated Wealth Concepts LLC now owns 900,167 shares of the company’s stock worth $37,762,000 after acquiring an additional 37,376 shares during the period.

BNY Mellon Core Bond ETF Company Profile

The BNY Mellon Core Bond ETF (BKAG) is an exchange-traded fund that is based on the Bloomberg US Aggregate Total Return index. The fund tracks a broad index of US investment-grade fixed income securities, including Treasurys, agencies, CMBS, ABS and corporates. BKAG was launched on Apr 24, 2020 and is managed by BNY Mellon.