SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Short Interest Update

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 154,711 shares, a drop of 78.1% from the May 14th total of 707,249 shares. Based on an average daily volume of 801,947 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are sold short.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

Shares of SPDR Bloomberg Investment Grade Floating Rate ETF stock traded up $0.02 on Wednesday, hitting $30.78. The stock had a trading volume of 419,851 shares, compared to its average volume of 1,013,528. The stock has a 50 day moving average of $30.77 and a 200 day moving average of $30.77. SPDR Bloomberg Investment Grade Floating Rate ETF has a twelve month low of $30.63 and a twelve month high of $30.86.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 474.4% in the third quarter. JPMorgan Chase & Co. now owns 1,306,086 shares of the company’s stock worth $40,306,000 after purchasing an additional 1,078,702 shares during the last quarter. Wells Fargo & Company MN grew its position 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 buying an additional 943,588 shares during the last quarter. Wealthfront Advisers LLC grew its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 20.8% in the 4th quarter. Wealthfront Advisers LLC now owns 4,935,059 shares of the company’s stock valued at $151,654,000 after buying an additional 848,337 shares during the last quarter. Beacon Capital Management Inc. increased its stake in shares of 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 buying an additional 396,507 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the second quarter valued at about $10,679,000.

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.