Short Interest in SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Decreases By 14.5%

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 2,253,404 shares, a decrease of 14.5% from the January 15th total of 2,635,298 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average trading volume of 1,110,639 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 1,110,639 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.5% of the shares of the stock are sold short.

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

Institutional investors have recently modified their holdings of the company. Wealthfront Advisers LLC raised its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 20.8% in the 4th quarter. Wealthfront Advisers LLC now owns 4,935,059 shares of the company’s stock worth $151,654,000 after acquiring an additional 848,337 shares during the last quarter. Wells Fargo & Company MN increased its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 62.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,444,617 shares of the company’s stock worth $75,123,000 after purchasing an additional 943,588 shares in the last quarter. Royal Bank of Canada raised its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 12.0% in the fourth quarter. Royal Bank of Canada now owns 2,143,297 shares of the company’s stock worth $65,863,000 after purchasing an additional 229,985 shares during the last quarter. Morgan Stanley lifted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 7.1% in the fourth quarter. Morgan Stanley now owns 2,102,442 shares of the company’s stock valued at $64,608,000 after purchasing an additional 138,501 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of 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 valued at $59,656,000 after buying an additional 182,087 shares during the last quarter.

SPDR Bloomberg Investment Grade Floating Rate ETF Price Performance

Shares of FLRN stock traded up $0.02 during trading hours on Tuesday, hitting $30.81. 325,053 shares of the company’s stock traded hands, compared to its average volume of 955,128. The stock’s 50 day simple moving average is $30.77 and its 200 day simple moving average is $30.78. SPDR Bloomberg Investment Grade Floating Rate ETF has a 12 month low of $30.01 and a 12 month high of $30.87.

SPDR Bloomberg Investment Grade Floating Rate ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were issued a $0.1083 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, February 2nd.

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.