It was probably floating quite happily and would do so for a long period if it was upright however sounds like it possibly flipped over as the landing was not stabilised due to the low altitude at which the chute was deployed, so in theory it would be a great aircraft to bob around in the ocean in whilst waiting for recovery (versus a high wing where you'd be sitting on the wing, in this case, you'd be sitting on the wing, but in a nice leather seat.
Now where is that metar again????? I'm beginning to sound like old Planky.