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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,989,361 shares, a growth of 3,499.3% from the June 15th total of 83,055 shares. Based on an average daily volume of 1,655,451 shares, the short-interest ratio is presently 1.8 days. Currently, 3.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 2.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 12,881 shares of the company’s stock valued at $396,000 after acquiring an additional 365 shares during the last quarter. Chesley Taft & Associates LLC grew its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 1.0% in the 4th quarter. Chesley Taft & Associates LLC now owns 41,100 shares of the company’s stock worth $1,263,000 after acquiring an additional 400 shares during the last quarter. Portland Financial Advisors Inc grew its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 1.0% in the 4th quarter. Portland Financial Advisors Inc now owns 41,042 shares of the company’s stock worth $1,261,000 after acquiring an additional 408 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 20,333 shares of the company’s stock worth $625,000 after purchasing an additional 458 shares during the period. Finally, Cornerstone Advisors Asset Management LLC raised its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 3.8% during the fourth quarter. Cornerstone Advisors Asset Management LLC now owns 13,367 shares of the company’s stock worth $411,000 after purchasing an additional 487 shares during the period.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Up 0.0%

NYSEARCA:FLRN traded up $0.01 during mid-day trading on Friday, reaching $30.80. The stock had a trading volume of 927,259 shares, compared to its average volume of 1,068,175. SPDR Bloomberg Investment Grade Floating Rate ETF has a 1-year low of $30.63 and a 1-year high of $30.87. The stock’s 50 day simple moving average is $30.79 and its two-hundred day simple moving average is $30.77.

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.