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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 1,095,767 shares, a decline of 51.4% from the January 29th total of 2,253,404 shares. Based on an average daily volume of 949,881 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.2% of the shares of the stock are sold short. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 949,881 shares, the days-to-cover ratio is currently 1.2 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Price Performance

Shares of NYSEARCA FLRN remained flat at $30.84 during midday trading on Friday. 1,005,918 shares of the stock were exchanged, compared to its average volume of 936,529. SPDR Bloomberg Investment Grade Floating Rate ETF has a 1 year low of $30.01 and a 1 year high of $30.87. The business’s 50-day simple moving average is $30.78 and its 200-day simple moving average is $30.79.

SPDR Bloomberg Investment Grade Floating Rate ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were paid a $0.1083 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, February 2nd.

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

A number of hedge funds have recently made changes to their positions in the business. Macco Financial Group Inc. bought a new stake in SPDR Bloomberg Investment Grade Floating Rate ETF during the 4th quarter valued at approximately $3,130,000. Axxcess Wealth Management LLC bought a new position in SPDR Bloomberg Investment Grade Floating Rate ETF in the 4th quarter worth approximately $439,000. Corient Private Wealth LLC grew its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 2.3% during the 4th quarter. Corient Private Wealth LLC now owns 20,333 shares of the company’s stock valued at $625,000 after buying an additional 458 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 36.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,695 shares of the company’s stock valued at $574,000 after buying an additional 5,041 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF during the fourth quarter valued at approximately $5,731,000.

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.