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

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 313,812 shares, an increase of 53.9% from the July 30th total of 203,872 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 1,772,934 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 31.3% during the second quarter. JPMorgan Chase & Co. now owns 227,384 shares of the company’s stock worth $7,010,000 after buying an additional 54,222 shares during the last quarter. M&T Bank Corp bought a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the second quarter valued at approximately $240,000. Raymond James Financial Inc. boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 11.4% in the 2nd quarter. Raymond James Financial Inc. now owns 633,387 shares of the company’s stock worth $19,527,000 after acquiring an additional 64,982 shares in the last quarter. Vista Investment Management boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 14.7% in the 2nd quarter. Vista Investment Management now owns 14,425 shares of the company’s stock worth $445,000 after acquiring an additional 1,849 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the 2nd quarter worth approximately $10,679,000.

SPDR Bloomberg Investment Grade Floating Rate ETF Trading Down 0.4%

FLRN traded down $0.11 on Tuesday, hitting $30.75. 55,239 shares of the stock traded hands, compared to its average volume of 1,120,054. The business has a fifty day moving average price of $30.80 and a two-hundred day moving average price of $30.78. SPDR Bloomberg Investment Grade Floating Rate ETF has a 52 week low of $30.63 and a 52 week high of $30.87.

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.