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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw a large decrease in short interest in May. As of May 29th, there was short interest totaling 154,711 shares, a decrease of 78.1% from the May 14th total of 707,249 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 801,947 shares, the days-to-cover ratio is currently 0.2 days.

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

Several hedge funds and other institutional investors have recently made changes to their positions in FLRN. NewEdge Advisors LLC lifted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 17.9% during the 1st quarter. NewEdge Advisors LLC now owns 74,081 shares of the company’s stock worth $2,280,000 after acquiring an additional 11,249 shares during the period. Western Wealth Management LLC increased its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 139.5% in the first quarter. Western Wealth Management LLC now owns 69,227 shares of the company’s stock valued at $2,131,000 after acquiring an additional 40,323 shares during the last quarter. Cornerstone Wealth LLC TN acquired a new position in SPDR Bloomberg Investment Grade Floating Rate ETF during the first quarter valued at approximately $303,000. Gould Capital LLC lifted its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 9.3% during the first quarter. Gould Capital LLC now owns 105,351 shares of the company’s stock worth $3,243,000 after purchasing an additional 8,937 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 12.8% during the first quarter. Empowered Funds LLC now owns 118,437 shares of the company’s stock worth $3,634,000 after purchasing an additional 13,431 shares during the last quarter.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Up 0.1%

FLRN stock traded up $0.02 during midday trading on Wednesday, reaching $30.78. The company had a trading volume of 419,851 shares, compared to its average volume of 1,013,528. The stock has a 50 day moving average price of $30.77 and a 200-day moving average price of $30.77. SPDR Bloomberg Investment Grade Floating Rate ETF has a 1-year low of $30.63 and a 1-year high of $30.86.

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.