Published on 30 May 2024 on Zacks via Yahoo Finance
Floating Rate Bond ETF (FLOT) Hits New 52-Week High
For investors seeking momentum, iShares Floating Rate Bond ETF FLOT is probably on the radar. The fund just hit a 52-week high and is up 1.3% from its 52-week low price of $50.45/share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
FLOT in Focus
iShares Floating Rate Bond ETF offers exposure to U.S. floating rate bonds, whose interest payments adjust to reflect changes in interest rates. It focuses on better quality notes, with 93% of them rated A or higher, with an average maturity of 1.78 years and an effective duration of 0.02 years. iShares Floating Rate Bond ETF charges 15 bps in annual fees (see: all the Investment Grade Bond ETFs here).