SPDR Bloomberg Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Sets New 52-Week High – What’s Next?

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

SPDR Bloomberg Investment Grade Floating Rate ETF Price Performance

The firm’s 50-day moving average is $30.80 and its two-hundred day moving average is $30.77.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLRN. JPMorgan Chase & Co. raised its position in SPDR Bloomberg Investment Grade Floating Rate ETF by 474.4% during the third quarter. JPMorgan Chase & Co. now owns 1,306,086 shares of the company’s stock valued at $40,306,000 after purchasing an additional 1,078,702 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 62.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,444,617 shares of the company’s stock worth $75,123,000 after purchasing an additional 943,588 shares during the period. Wealthfront Advisers LLC increased its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 20.8% during the 4th quarter. Wealthfront Advisers LLC now owns 4,935,059 shares of the company’s stock valued at $151,654,000 after purchasing an additional 848,337 shares during the last quarter. Beacon Capital Management Inc. increased its position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF by 141,609.6% during the 4th quarter. Beacon Capital Management Inc. now owns 396,787 shares of the company’s stock valued at $12,193,000 after purchasing an additional 396,507 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of SPDR Bloomberg Investment Grade Floating Rate ETF during the 2nd quarter valued at approximately $10,679,000.

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.