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 drop in short interest in the month of September. As of September 30th, there was short interest totaling 387,714 shares, a drop 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 daily trading volume, of 1,655,450 shares, the short-interest ratio is currently 0.2 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Price Performance

Shares of FLRN remained flat at $30.77 during trading hours on Friday. The stock had a trading volume of 1,289,331 shares, compared to its average volume of 1,192,804. SPDR Bloomberg Investment Grade Floating Rate ETF has a twelve month low of $30.63 and a twelve month high of $30.87. The firm has a fifty day simple moving average of $30.78 and a two-hundred day simple moving average of $30.78.

Institutional Inflows and Outflows

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