Shares of BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI – Get Free Report) reached a new 52-week low on Friday. The company traded as low as $48.50 and last traded at $49.6750, with a volume of 1,763 shares. The stock had previously closed at $49.65.
BNY Mellon Ultra Short Income ETF Stock Up 0.0%
The company’s fifty day simple moving average is $49.59 and its 200-day simple moving average is $49.70.
BNY Mellon Ultra Short Income ETF Cuts Dividend
The company also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were issued a $0.1359 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, October 1st. This is a negative change from BNY Mellon Ultra Short Income ETF’s previous monthly dividend of $0.1588.
Hedge Funds Weigh In On BNY Mellon Ultra Short Income ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Overbrook Management Corp acquired a new position in shares of BNY Mellon Ultra Short Income ETF in the 3rd quarter worth approximately $499,000. Envestnet Asset Management Inc. raised its position in BNY Mellon Ultra Short Income ETF by 91.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,988 shares of the company’s stock valued at $696,000 after purchasing an additional 6,688 shares during the last quarter. Private Advisor Group LLC raised its position in BNY Mellon Ultra Short Income ETF by 11.3% in the 1st quarter. Private Advisor Group LLC now owns 18,920 shares of the company’s stock valued at $942,000 after purchasing an additional 1,915 shares during the last quarter. Western Wealth Management LLC boosted its stake in BNY Mellon Ultra Short Income ETF by 17.6% in the first quarter. Western Wealth Management LLC now owns 23,000 shares of the company’s stock worth $1,145,000 after purchasing an additional 3,436 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of BNY Mellon Ultra Short Income ETF by 167.8% during the second quarter. Citadel Advisors LLC now owns 28,274 shares of the company’s stock worth $1,407,000 after purchasing an additional 17,717 shares during the last quarter.
About BNY Mellon Ultra Short Income ETF
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.
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