Independence Asset Advisors LLC Purchases 273,532 Shares of VanEck CLO ETF $CLOI

Independence Asset Advisors LLC increased its position in shares of VanEck CLO ETF (NYSEARCA:CLOI) by 17.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,863,451 shares of the company’s stock after purchasing an additional 273,532 shares during the period. VanEck CLO ETF accounts for approximately 35.5% of Independence Asset Advisors LLC’s portfolio, making the stock its largest position. Independence Asset Advisors LLC owned about 0.07% of VanEck CLO ETF worth $98,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new stake in shares of VanEck CLO ETF during the fourth quarter worth $37,000. Raleigh Capital Management Inc. acquired a new position in VanEck CLO ETF during the fourth quarter worth about $43,000. NBC Securities Inc. purchased a new stake in VanEck CLO ETF during the 4th quarter valued at about $61,000. Capital Investment Advisory Services LLC acquired a new stake in VanEck CLO ETF in the 4th quarter valued at about $68,000. Finally, Sound Income Strategies LLC purchased a new position in VanEck CLO ETF in the 4th quarter worth approximately $100,000.

VanEck CLO ETF Stock Performance

Shares of VanEck CLO ETF stock opened at $52.93 on Monday. The stock’s 50 day simple moving average is $52.83 and its 200-day simple moving average is $52.80. VanEck CLO ETF has a 1-year low of $52.36 and a 1-year high of $53.15.

VanEck CLO ETF Profile

The VanEck CLO ETF (CLOI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to invest in collateralized loan obligations (CLOs) of any maturity. While targeting USD-denominated high-quality CLOs, the fund may still hold high-yield bonds in foreign currency. CLOI was launched on Jun 21, 2022 and is managed by VanEck.