BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Sees Significant Decrease in Short Interest

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 9,058 shares, a decline of 50.2% from the September 15th total of 18,180 shares. Based on an average daily volume of 443,209 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.1% of the company’s stock are short sold.

BNY Mellon Ultra Short Income ETF Stock Performance

Shares of BKUI stock traded up $0.01 during trading hours on Wednesday, reaching $49.55. 19,367 shares of the company’s stock were exchanged, compared to its average volume of 101,783. The stock’s 50 day moving average is $49.60 and its 200-day moving average is $49.67. BNY Mellon Ultra Short Income ETF has a fifty-two week low of $49.47 and a fifty-two week high of $49.96.

BNY Mellon Ultra Short Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were paid a dividend of $0.1359 per share. This is a negative change from BNY Mellon Ultra Short Income ETF’s previous monthly dividend of $0.1588. The ex-dividend date was Thursday, October 1st. This represents a $1.63 annualized dividend and a yield of 3.3%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC acquired a new stake in BNY Mellon Ultra Short Income ETF in the first quarter worth about $397,000. Overbrook Management Corp purchased a new stake in shares of BNY Mellon Ultra Short Income ETF during the third quarter worth about $499,000. Envestnet Asset Management Inc. increased its holdings in shares of BNY Mellon Ultra Short Income ETF by 91.6% during the second quarter. Envestnet Asset Management Inc. now owns 13,988 shares of the company’s stock valued at $696,000 after acquiring an additional 6,688 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of BNY Mellon Ultra Short Income ETF by 11.3% during the first quarter. Private Advisor Group LLC now owns 18,920 shares of the company’s stock valued at $942,000 after acquiring an additional 1,915 shares in the last quarter. Finally, Western Wealth Management LLC increased its holdings in shares of BNY Mellon Ultra Short Income ETF by 17.6% during the first quarter. Western Wealth Management LLC now owns 23,000 shares of the company’s stock valued at $1,145,000 after acquiring an additional 3,436 shares in the last quarter.

BNY Mellon Ultra Short Income ETF Company Profile

The BNY Mellon Ultra Short Income ETF (BKUI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed portfolio of investment-grade, USD-denominated fixed income securities with an ultra-short effective duration. The fund aims for high income and low volatility. BKUI was launched on Aug 9, 2021 and is managed by BNY Mellon.