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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 387,714 shares, a decline of 90.4% from the September 15th total of 4,053,467 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 1,655,450 shares, the days-to-cover ratio is currently 0.2 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

FLRN stock remained flat at $30.77 during mid-day trading on Friday. The company’s stock had a trading volume of 1,289,331 shares, compared to its average volume of 1,192,804. The company has a fifty day simple moving average of $30.78 and a 200 day simple moving average 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

Large investors have recently modified their holdings of the stock. Wealthfront Advisers LLC raised its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 7.8% in the 1st quarter. Wealthfront Advisers LLC now owns 5,319,203 shares of the company’s stock worth $163,725,000 after purchasing an additional 384,144 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 18.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,699,472 shares of the company’s stock worth $83,279,000 after buying an additional 413,910 shares during the period. Farther Finance Advisors LLC grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 3.4% during the third quarter. Farther Finance Advisors LLC now owns 1,009,744 shares of the company’s stock valued at $31,141,000 after acquiring an additional 33,342 shares in the last quarter. Valmark Advisers Inc. increased its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 1.8% in the first quarter. Valmark Advisers Inc. now owns 995,071 shares of the company’s stock worth $30,628,000 after purchasing an additional 17,682 shares during the last quarter. Finally, State Street Corp grew its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 36.0% during the 2nd quarter. State Street Corp now owns 941,322 shares of the company’s stock valued at $29,040,000 after purchasing an additional 249,190 shares during 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.