This Floating Rate ETF Was Today’s Biggest Gaining ETF On A Dollar Basis

The AdvisorShares Pacific Asset Enhanced Floating Rate ETF (FLRT) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a dollar basis, producing a +4.65% one-day return and outperforming the wider markets by a total of 5.02 percentage points.

Behind The Gains

FLRT closed today at $52.41 per share, up $2.33 (+4.65%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed down $-0.84 (-0.37%) on the day.

FLRT’s trading volume today was a total of 203 shares, which was an increase of 74% versus its average daily trading volume of 117. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s gains, FLRT has now returned a total of 4.65% year-to-date, versus a 1.06% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

AdvisorShares Pacific Asset Enhanced Floating Rate ETF is a Fixed Income-focused product issued by AdvisorShares. Its expense ratio of 1.10% makes it the #35 cheapest ETF among 37 total funds in the Financial Equities ETFs category.

FLRT currently boasts $27.48M in assets under management (AUM), placing it #28 of 37 ETFs in its category, and #1213 of 1920 total ETFs in the U.S. exchange traded universe.

The investment objective of the AdvisorShares Pacific Asset Enhanced Floating Rate ETF is to select a focused portfolio comprised primarily of income producing floating rate loans and floating rate debt securities. Under normal circumstances, it will invest at least 80% of its net assets in floating rate loans and other floating rate debt securities and in derivatives or other instruments that have economic characteristics similar to such securities (such as swap agreements, including, but not limited to, total return swaps, credit default swaps, and interest rate swaps).

FLRT SMART Grade

FLRT currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #30 of 39 funds in the Financial Equities ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit FLRT’s ticker page.

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