SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Sets New 52-Week High – Time to Buy?

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $30.86 and last traded at $30.86, with a volume of 808258 shares changing hands. The stock had previously closed at $30.84.

SPDR Bloomberg Investment Grade Floating Rate ETF Trading Up 0.1%

The firm’s 50-day moving average price is $30.79 and its 200 day moving average price is $30.77.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 17.9% during the first quarter. NewEdge Advisors LLC now owns 74,081 shares of the company’s stock valued at $2,280,000 after buying an additional 11,249 shares during the last quarter. Western Wealth Management LLC lifted its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 139.5% during the 1st quarter. Western Wealth Management LLC now owns 69,227 shares of the company’s stock valued at $2,131,000 after acquiring an additional 40,323 shares in the last quarter. Cornerstone Wealth LLC TN bought a new position in SPDR Bloomberg Investment Grade Floating Rate ETF during the 1st quarter valued at $303,000. Gould Capital LLC boosted its holdings in SPDR Bloomberg Investment Grade Floating Rate ETF by 9.3% during the 1st quarter. Gould Capital LLC now owns 105,351 shares of the company’s stock worth $3,243,000 after acquiring an additional 8,937 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 12.8% in the 1st quarter. Empowered Funds LLC now owns 118,437 shares of the company’s stock worth $3,634,000 after acquiring an additional 13,431 shares in the last quarter.

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.