Mader & Shannon Wealth Management Inc. Makes New Investment in iShares Floating Rate Bond ETF $FLOT

Mader & Shannon Wealth Management Inc. acquired a new position in iShares Floating Rate Bond ETF (BATS:FLOT) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 270,581 shares of the company’s stock, valued at approximately $13,813,000. iShares Floating Rate Bond ETF accounts for approximately 5.8% of Mader & Shannon Wealth Management Inc.’s portfolio, making the stock its 7th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Glenview Trust Co lifted its position in iShares Floating Rate Bond ETF by 3.4% during the third quarter. Glenview Trust Co now owns 3,253,697 shares of the company’s stock valued at $166,101,000 after purchasing an additional 107,720 shares in the last quarter. PNC Financial Services Group Inc. increased its position in iShares Floating Rate Bond ETF by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,029,454 shares of the company’s stock worth $103,401,000 after buying an additional 230,814 shares in the last quarter. Assetmark Inc. increased its position in iShares Floating Rate Bond ETF by 2.4% in the first quarter. Assetmark Inc. now owns 1,965,478 shares of the company’s stock worth $100,141,000 after buying an additional 46,823 shares in the last quarter. Kensington Asset Management LLC raised its stake in shares of iShares Floating Rate Bond ETF by 39.9% in the first quarter. Kensington Asset Management LLC now owns 1,524,738 shares of the company’s stock worth $77,685,000 after buying an additional 434,772 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of iShares Floating Rate Bond ETF by 1.3% in the first quarter. Cetera Investment Advisers now owns 1,086,284 shares of the company’s stock worth $55,346,000 after buying an additional 13,784 shares during the period.

iShares Floating Rate Bond ETF Stock Up 0.0%

Shares of FLOT stock traded up $0.01 during trading hours on Friday, reaching $50.84. 2,105,036 shares of the company traded hands, compared to its average volume of 1,914,095. iShares Floating Rate Bond ETF has a 12-month low of $50.67 and a 12-month high of $51.08. The firm has a 50-day moving average price of $50.95 and a 200 day moving average price of $50.95.

iShares Floating Rate Bond ETF Company Profile

The iShares Floating Rate Bond ETF (FLOT) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of USD-denominated, investment-grade floating rate notes with maturities of 0-5 years. FLOT was launched on Jun 14, 2011 and is managed by BlackRock.