Short Interest in SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Declines By 78.1%

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

SPDR Bloomberg Investment Grade Floating Rate ETF Stock Performance

Shares of NYSEARCA FLRN remained flat at $30.79 during mid-day trading on Friday. 744,214 shares of the stock traded hands, compared to its average volume of 1,011,081. The business 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 52-week low of $30.63 and a 52-week high of $30.86.

Institutional Trading of SPDR Bloomberg Investment Grade Floating Rate ETF

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 31.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 227,384 shares of the company’s stock worth $7,010,000 after purchasing an additional 54,222 shares during the period. M&T Bank Corp purchased a new stake in SPDR Bloomberg Investment Grade Floating Rate ETF in the 2nd quarter worth about $240,000. Raymond James Financial Inc. raised its position in 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 purchasing an additional 64,982 shares during the period. Vista Investment Management raised its position in 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 purchasing an additional 1,849 shares during the period. Finally, Jane Street Group LLC purchased a new stake in SPDR Bloomberg Investment Grade Floating Rate ETF in the 2nd quarter worth 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.