SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Sees Significant Drop in Short Interest

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 200,994 shares, a decline of 93.3% from the June 30th total of 2,989,361 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 1,278,713 shares, the days-to-cover ratio is currently 0.2 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

Shares of FLRN traded up $0.02 during trading hours on Friday, hitting $30.82. The stock had a trading volume of 1,171,199 shares, compared to its average volume of 1,081,175. The firm has a 50-day moving average price of $30.80 and a 200 day moving average price of $30.78. SPDR Bloomberg Investment Grade Floating Rate ETF has a fifty-two week low of $30.63 and a fifty-two week high of $30.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 431.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,000 shares of the company’s stock worth $31,000 after acquiring an additional 812 shares during the period. SHP Wealth Management acquired a new stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF during the 4th quarter valued at about $34,000. Quest 10 Wealth Builders Inc. grew its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 11,141.7% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 1,349 shares of the company’s stock valued at $41,000 after acquiring an additional 1,337 shares during the period. Evolution Wealth Management Inc. purchased a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the 1st quarter valued at about $50,000. Finally, Greykasell Wealth Strategies Inc. increased its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 69.1% in the 4th quarter. Greykasell Wealth Strategies Inc. now owns 1,664 shares of the company’s stock valued at $51,000 after purchasing an additional 680 shares in the last quarter.

About SPDR Bloomberg Investment Grade Floating Rate ETF

The SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of USD-denominated, investment-grade floating rate notes. Securities must have between 1 month and 5 years until maturity. FLRN was launched on Nov 30, 2011 and is managed by State Street.