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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,989,361 shares, an increase of 3,499.3% from the June 15th total of 83,055 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 1,655,451 shares, the short-interest ratio is currently 1.8 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

NYSEARCA:FLRN traded up $0.01 during mid-day trading on Friday, hitting $30.80. 927,259 shares of the company’s stock traded hands, compared to its average volume of 1,068,175. The firm’s 50 day simple moving average is $30.79 and its 200 day simple moving average is $30.77. SPDR Bloomberg Investment Grade Floating Rate ETF has a 1 year low of $30.63 and a 1 year high of $30.87.

Institutional Investors Weigh In On SPDR Bloomberg Investment Grade Floating Rate ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Planning Group LLC grew its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 431.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,000 shares of the company’s stock valued at $31,000 after buying an additional 812 shares during the last quarter. SHP Wealth Management acquired a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the fourth quarter worth $34,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 11,141.7% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 1,349 shares of the company’s stock worth $41,000 after acquiring an additional 1,337 shares during the last quarter. Evolution Wealth Management Inc. purchased a new stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the first quarter valued at $50,000. Finally, Greykasell Wealth Strategies Inc. lifted its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 69.1% in the fourth quarter. Greykasell Wealth Strategies Inc. now owns 1,664 shares of the company’s stock valued at $51,000 after acquiring an additional 680 shares in the last quarter.

SPDR Bloomberg Investment Grade Floating Rate ETF Company Profile

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.