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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 1,022,526 shares, a growth of 225.8% from the August 15th total of 313,812 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 992,846 shares, the days-to-cover ratio is currently 1.0 days.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 62.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,444,617 shares of the company’s stock valued at $75,123,000 after acquiring an additional 943,588 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in SPDR Bloomberg Investment Grade Floating Rate ETF in the second quarter valued at approximately $26,943,000. Citadel Advisors LLC grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 2,914.4% in the second quarter. Citadel Advisors LLC now owns 549,371 shares of the company’s stock valued at $16,948,000 after purchasing an additional 531,146 shares in the last quarter. Beacon Capital Management Inc. grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 141,609.6% in the fourth quarter. Beacon Capital Management Inc. now owns 396,787 shares of the company’s stock valued at $12,193,000 after purchasing an additional 396,507 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 7.8% during the 1st quarter. Wealthfront Advisers LLC now owns 5,319,203 shares of the company’s stock worth $163,725,000 after purchasing an additional 384,144 shares during the last quarter.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

Shares of FLRN stock traded up $0.01 during trading on Friday, reaching $30.77. The company’s stock had a trading volume of 1,067,039 shares, compared to its average volume of 1,110,944. The business has a fifty day moving average price of $30.79 and a 200-day moving average price of $30.78. SPDR Bloomberg Investment Grade Floating Rate ETF has a one year low of $30.63 and a one year high of $30.87.

SPDR Bloomberg Investment Grade Floating Rate ETF Company Profile

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.