Franklin Income Focus ETF (NYSEARCA:INCM) Sees Significant Decline in Short Interest
by Scott Moore · The Cerbat GemFranklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 107,380 shares, a drop of 17.6% from the March 15th total of 130,357 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 295,872 shares, the short-interest ratio is presently 0.4 days.
Franklin Income Focus ETF Stock Up 0.3%
Shares of INCM traded up $0.09 during midday trading on Thursday, reaching $29.26. 233,077 shares of the stock were exchanged, compared to its average volume of 333,052. The stock’s 50 day simple moving average is $29.10 and its 200 day simple moving average is $28.45. The company has a market cap of $1.42 billion, a P/E ratio of -49,846.68 and a beta of 0.46. Franklin Income Focus ETF has a twelve month low of $25.21 and a twelve month high of $29.57.
Hedge Funds Weigh In On Franklin Income Focus ETF
Several large investors have recently bought and sold shares of INCM. Nations Financial Group Inc. IA ADV boosted its stake in shares of Franklin Income Focus ETF by 337.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 60,651 shares of the company’s stock valued at $1,744,000 after purchasing an additional 46,794 shares during the last quarter. World Investment Advisors bought a new position in shares of Franklin Income Focus ETF during the fourth quarter valued at about $517,000. NewEdge Advisors LLC boosted its holdings in Franklin Income Focus ETF by 4.3% during the fourth quarter. NewEdge Advisors LLC now owns 104,250 shares of the company’s stock worth $2,923,000 after purchasing an additional 4,318 shares during the last quarter. Cetera Investment Advisers grew its position in Franklin Income Focus ETF by 8.3% in the 4th quarter. Cetera Investment Advisers now owns 576,384 shares of the company’s stock worth $16,162,000 after purchasing an additional 44,061 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Franklin Income Focus ETF by 27.2% in the 4th quarter. Advisory Services Network LLC now owns 39,648 shares of the company’s stock valued at $1,112,000 after buying an additional 8,484 shares during the last quarter.
About Franklin Income Focus ETF
The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.