SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Shares Shorted: Short Interest Up 296.4% in September

SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 4,053,467 shares, an increase of 296.4% from the August 31st total of 1,022,526 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average trading volume of 1,414,534 shares, the days-to-cover ratio is currently 2.9 days.

SPDR Bloomberg Investment Grade Floating Rate ETF Trading Up 0.0%

Shares of FLRN stock traded up $0.01 during trading hours on Friday, hitting $30.83. 946,949 shares of the company were exchanged, compared to its average volume of 1,178,179. The firm has a fifty day simple moving average of $30.79 and a 200 day simple moving average 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealthfront Advisers LLC raised its stake in SPDR Bloomberg Investment Grade Floating Rate ETF by 7.8% in the 1st quarter. Wealthfront Advisers LLC now owns 5,319,203 shares of the company’s stock valued at $163,725,000 after acquiring an additional 384,144 shares during the period. Envestnet Asset Management Inc. boosted its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 18.1% during the second quarter. Envestnet Asset Management Inc. now owns 2,699,472 shares of the company’s stock worth $83,279,000 after purchasing an additional 413,910 shares during the period. Valmark Advisers Inc. boosted its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 1.8% during the first quarter. Valmark Advisers Inc. now owns 995,071 shares of the company’s stock worth $30,628,000 after purchasing an additional 17,682 shares during the period. State Street Corp increased its stake in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 36.0% in the second quarter. State Street Corp now owns 941,322 shares of the company’s stock worth $29,040,000 after purchasing an additional 249,190 shares in the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF in the second quarter worth about $26,943,000.

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.