BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Hits New 52-Week Low – Here’s Why

BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI – Get Free Report)’s stock price reached a new 52-week low on Wednesday. The stock traded as low as $49.19 and last traded at $49.54, with a volume of 1,111 shares changing hands. The stock had previously closed at $49.55.

BNY Mellon Ultra Short Income ETF Price Performance

The business’s 50 day moving average is $49.60 and its two-hundred day moving average is $49.67.

BNY Mellon Ultra Short Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were issued a dividend of $0.1359 per share. The ex-dividend date was Thursday, October 1st. This represents a $1.63 dividend on an annualized basis and a yield of 3.3%. This is a drop 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

Several hedge funds and other institutional investors have recently modified their holdings of BKUI. Krilogy Financial LLC bought a new stake in shares of BNY Mellon Ultra Short Income ETF in the 1st quarter worth $397,000. Overbrook Management Corp bought a new position in shares of BNY Mellon Ultra Short Income ETF during the third quarter valued at $499,000. Envestnet Asset Management Inc. lifted 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 purchasing an additional 6,688 shares in the last quarter. Private Advisor Group LLC lifted 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 purchasing an additional 1,915 shares in the last quarter. Finally, Western Wealth Management LLC boosted its position 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 buying an additional 3,436 shares during the last quarter.

BNY Mellon Ultra Short Income ETF Company Profile

(Get Free Report)

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.

Further Reading

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