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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the target of a large growth in short interest in 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. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 1,655,451 shares, the days-to-cover ratio is currently 1.8 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Up 0.0%

Shares of FLRN stock traded up $0.01 on Friday, hitting $30.80. The company’s 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 fifty-two week low of $30.63 and a fifty-two week high of $30.87. The firm’s fifty day moving average price is $30.79 and its 200-day moving average price is $30.77.

Institutional Trading of SPDR Bloomberg Investment Grade Floating Rate ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC increased its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 431.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,000 shares of the company’s stock valued at $31,000 after acquiring an additional 812 shares during the last quarter. SHP Wealth Management acquired a new stake in SPDR Bloomberg Investment Grade Floating Rate ETF in the 4th quarter worth approximately $34,000. Quest 10 Wealth Builders Inc. lifted its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 11,141.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 1,349 shares of the company’s stock worth $41,000 after purchasing an additional 1,337 shares during the last quarter. Evolution Wealth Management Inc. bought a new stake in SPDR Bloomberg Investment Grade Floating Rate ETF during the first quarter worth approximately $50,000. Finally, Greykasell Wealth Strategies Inc. boosted its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 69.1% during the fourth quarter. Greykasell Wealth Strategies Inc. now owns 1,664 shares of the company’s stock worth $51,000 after purchasing an additional 680 shares during the period.

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.