SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Short Interest Update

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,050,346 shares, a growth of 72.2% from the February 26th total of 609,919 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 1,199,303 shares, the days-to-cover ratio is currently 0.9 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Trading Down 0.1%

NYSEARCA FLRN traded down $0.04 on Friday, reaching $30.72. 1,165,922 shares of the stock traded hands, compared to its average volume of 972,127. SPDR Bloomberg Investment Grade Floating Rate ETF has a 12 month low of $30.01 and a 12 month high of $30.86. The company has a fifty day moving average price of $30.78 and a 200-day moving average price of $30.78.

SPDR Bloomberg Investment Grade Floating Rate ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a dividend of $0.0994 per share. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, March 2nd.

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

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 31.3% in the second quarter. JPMorgan Chase & Co. now owns 227,384 shares of the company’s stock valued at $7,010,000 after purchasing an additional 54,222 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF during the second quarter valued at about $340,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 0.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 225,635 shares of the company’s stock valued at $6,956,000 after buying an additional 1,664 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 2,982.6% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 100,061 shares of the company’s stock valued at $3,246,000 after buying an additional 96,815 shares in the last quarter. Finally, Financial Advocates Investment Management grew its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 7.7% in the 2nd quarter. Financial Advocates Investment Management now owns 29,479 shares of the company’s stock worth $909,000 after buying an additional 2,109 shares during the last quarter.

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.