SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Sets New 52-Week High – Time to Buy?

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) shares reached a new 52-week high on Monday . The company traded as high as $30.86 and last traded at $30.86, with a volume of 808258 shares changing hands. The stock had previously closed at $30.84.

SPDR Bloomberg Investment Grade Floating Rate ETF Price Performance

The stock’s 50-day simple moving average is $30.79 and its 200-day simple moving average is $30.77.

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

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 17.9% during the first quarter. NewEdge Advisors LLC now owns 74,081 shares of the company’s stock valued at $2,280,000 after acquiring an additional 11,249 shares during the last quarter. Western Wealth Management LLC lifted its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 139.5% during the first quarter. Western Wealth Management LLC now owns 69,227 shares of the company’s stock worth $2,131,000 after acquiring an additional 40,323 shares during the period. Cornerstone Wealth LLC TN purchased a new position in SPDR Bloomberg Investment Grade Floating Rate ETF in the first quarter worth $303,000. Gould Capital LLC boosted its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 9.3% in 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 grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 12.8% in the 1st quarter. Empowered Funds LLC now owns 118,437 shares of the company’s stock valued at $3,634,000 after purchasing an additional 13,431 shares during the period.

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.