BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) Sees Strong Trading Volume – Time to Buy?

Shares of BNY Mellon Ultra Short Income ETF (NYSEARCA:BKUI) saw strong trading volume on Monday . Approximately 75,231 shares changed hands during trading, a decline of 26% from the previous session’s volume of 101,266 shares.The stock last traded at $49.63 and had previously closed at $49.60.

BNY Mellon Ultra Short Income ETF Price Performance

The company’s 50-day simple moving average is $49.72 and its 200-day simple moving average is $49.77.

Hedge Funds Weigh In On BNY Mellon Ultra Short Income ETF

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of BNY Mellon Ultra Short Income ETF during the second quarter worth $31,000. Raymond James Financial Inc. acquired a new position in shares of BNY Mellon Ultra Short Income ETF in the 2nd quarter valued at $138,000. Jane Street Group LLC increased its stake in BNY Mellon Ultra Short Income ETF by 93.4% in the 2nd quarter. Jane Street Group LLC now owns 30,944 shares of the company’s stock worth $1,543,000 after purchasing an additional 14,948 shares in the last quarter. Private Advisor Group LLC purchased a new position in BNY Mellon Ultra Short Income ETF in the 3rd quarter worth about $832,000. Finally, PCG Wealth Advisors LLC acquired a new stake in BNY Mellon Ultra Short Income ETF during the 3rd quarter worth about $1,715,000.

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.