SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (NYSEARCA:FLRN) Hits New 12-Month High – Still a Buy?

Shares of SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (NYSEARCA:FLRN) hit a new 52-week high during trading on Friday . The stock traded as high as $30.88 and last traded at $30.88, with a volume of 23453 shares. The stock had previously closed at $30.86.

SPDR Bloomberg Barclays Investment Grade Floating Rate ETF Stock Performance

The firm’s fifty day simple moving average is $30.78 and its 200 day simple moving average is $30.77.

Institutional Trading of SPDR Bloomberg Barclays Investment Grade Floating Rate ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FLRN. Sunbelt Securities Inc. acquired a new position in SPDR Bloomberg Barclays Investment Grade Floating Rate ETF during the second quarter worth $26,000. First Horizon Advisors Inc. acquired a new position in SPDR Bloomberg Barclays Investment Grade Floating Rate ETF during the third quarter worth $34,000. Future Financial Wealth Managment LLC acquired a new position in SPDR Bloomberg Barclays Investment Grade Floating Rate ETF during the third quarter worth $68,000. Centennial Bank AR acquired a new position in SPDR Bloomberg Barclays Investment Grade Floating Rate ETF during the third quarter worth $139,000. Finally, L.M. Kohn & Company increased its holdings in SPDR Bloomberg Barclays Investment Grade Floating Rate ETF by 25.8% during the fourth quarter. L.M. Kohn & Company now owns 11,685 shares of the company’s stock worth $359,000 after buying an additional 2,395 shares during the last quarter.

About SPDR Bloomberg Barclays 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.