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. Based on an average daily trading volume, of 1,655,451 shares, the short-interest ratio is currently 1.8 days. Approximately 3.0% of the shares of the company are sold short.

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

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

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

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

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.