SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Stock Short Interest Drops 90.4%

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 387,714 shares, a decrease of 90.4% from the September 15th total of 4,053,467 shares. Based on an average trading volume of 1,655,450 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the shares of the stock are short sold.

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

Several institutional investors have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 7.8% during the first quarter. Wealthfront Advisers LLC now owns 5,319,203 shares of the company’s stock worth $163,725,000 after buying an additional 384,144 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 2,699,472 shares of the company’s stock valued at $83,279,000 after acquiring an additional 413,910 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 3.4% in the third quarter. Farther Finance Advisors LLC now owns 1,009,744 shares of the company’s stock valued at $31,141,000 after acquiring an additional 33,342 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 1.8% in the first quarter. Valmark Advisers Inc. now owns 995,071 shares of the company’s stock valued at $30,628,000 after acquiring an additional 17,682 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 36.0% in the 2nd quarter. State Street Corp now owns 941,322 shares of the company’s stock worth $29,040,000 after acquiring an additional 249,190 shares in the last quarter.

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

Shares of NYSEARCA:FLRN remained flat at $30.77 on Friday. 1,289,331 shares of the stock traded hands, compared to its average volume of 1,192,804. SPDR Bloomberg Investment Grade Floating Rate ETF has a 52 week low of $30.63 and a 52 week high of $30.87. The company has a fifty day moving average of $30.78 and a 200 day moving average of $30.78.

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.