BNY Mellon Core Bond ETF (NYSEARCA:BKAG) Hits New 52-Week Low – Here’s Why

BNY Mellon Core Bond ETF (NYSEARCA:BKAG) reached 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. The stock had previously closed at $40.10.

BNY Mellon Core Bond ETF Price Performance

The firm has a 50-day moving average of $41.11 and a 200-day moving average of $41.64.

BNY Mellon Core Bond ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, August 3rd were issued a $0.1460 dividend. This is a drop from BNY Mellon Core Bond ETF’s previous monthly dividend of $0.1561. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in BNY Mellon Core Bond ETF by 88.2% in the first quarter. Bank of New York Mellon Corp now owns 5,280,228 shares of the company’s stock valued at $222,826,000 after buying an additional 2,474,687 shares during the last quarter. Talon Private Wealth LLC raised its position in BNY Mellon Core Bond ETF by 2.0% during 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 raised its position in BNY Mellon Core Bond ETF by 13.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,084,875 shares of the company’s stock worth $46,037,000 after buying an additional 126,686 shares during the last quarter. Brookstone Capital Management lifted its stake in BNY Mellon Core Bond ETF by 1.2% during the 1st quarter. Brookstone Capital Management now owns 998,424 shares of the company’s stock valued at $42,134,000 after acquiring an additional 12,013 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its stake in BNY Mellon Core Bond ETF by 4.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 900,167 shares of the company’s stock valued at $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.