SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Sees Strong Trading Volume – Time to Buy?

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw unusually-strong trading volume on Wednesday . Approximately 1,848,341 shares changed hands during mid-day trading, an increase of 117% from the previous session’s volume of 850,503 shares.The stock last traded at $30.8150 and had previously closed at $30.81.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Up 0.0%

The firm’s 50 day moving average is $30.77 and its 200-day moving average is $30.78.

Hedge Funds Weigh In On SPDR Bloomberg Investment Grade Floating Rate ETF

Several institutional investors and hedge funds have recently modified their holdings of FLRN. Wealthfront Advisers LLC boosted its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 21.8% during the third quarter. Wealthfront Advisers LLC now owns 4,086,722 shares of the company’s stock worth $126,116,000 after purchasing an additional 731,074 shares in the last quarter. Bank of America Corp DE raised its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 10.4% during the second quarter. Bank of America Corp DE now owns 1,935,009 shares of the company’s stock worth $59,656,000 after acquiring an additional 182,087 shares during the period. New York Life Investment Management LLC lifted its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 21.9% during the third quarter. New York Life Investment Management LLC now owns 1,568,286 shares of the company’s stock valued at $48,397,000 after purchasing an additional 281,908 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 20.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,342,286 shares of the company’s stock valued at $41,423,000 after purchasing an additional 227,748 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 474.4% during the third quarter. JPMorgan Chase & Co. now owns 1,306,086 shares of the company’s stock worth $40,306,000 after purchasing an additional 1,078,702 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.