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No it isn't
This model is not a free float hand guard. Installing a free float would require removing this handguard, gas system, and barrel nut, then installing the new barrel nut, replacing the gas block/tube, and hand guard. It isn't difficult to do if one has the proper tools (barrel nut wrench, torque wrench, tool(s) for the particular style gas block) if one has some experience if is fairly adept at mechanical tasks. Otherwise, I recommend obtaining some assistance from a gunsmith, or friend familiar with AR maintenance. You'll find a multitude of free float hand guards from which to choose, if you elect to go this route, or Buds has several AR models with free float hand guards already installed. One can spend anywhere from $50 on up for a free float hand guard ... depending on what is wanted. For just general range use and plinking, the handguard on this MP15 should prove sufficient.
sorry its not free floated