Franklin Income Focus ETF (NYSEARCA:INCM) Short Interest Up 147.3% in April
by Scott Moore · The Cerbat GemFranklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 161,503 shares, a growth of 147.3% from the April 15th total of 65,301 shares. Based on an average daily volume of 304,917 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the stock are sold short.
Institutional Investors Weigh In On Franklin Income Focus ETF
A number of institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers grew its holdings in shares of Franklin Income Focus ETF by 7.8% during the 1st quarter. Cetera Investment Advisers now owns 621,105 shares of the company’s stock valued at $17,857,000 after purchasing an additional 44,721 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in Franklin Income Focus ETF in the first quarter worth $1,795,000. Assetmark Inc. boosted its position in Franklin Income Focus ETF by 43.0% during the first quarter. Assetmark Inc. now owns 1,797 shares of the company’s stock valued at $52,000 after buying an additional 540 shares during the period. D.A. Davidson & CO. grew its stake in shares of Franklin Income Focus ETF by 6.2% during the first quarter. D.A. Davidson & CO. now owns 153,075 shares of the company’s stock valued at $4,401,000 after buying an additional 8,890 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Franklin Income Focus ETF by 129.8% during the first quarter. Bank of New York Mellon Corp now owns 134,167 shares of the company’s stock valued at $3,857,000 after buying an additional 75,772 shares during the last quarter.
Franklin Income Focus ETF Stock Down 0.3%
Shares of NYSEARCA INCM traded down $0.10 during trading hours on Friday, reaching $29.10. 155,718 shares of the stock traded hands, compared to its average volume of 333,495. The company’s 50-day simple moving average is $29.04 and its two-hundred day simple moving average is $28.64. The company has a market capitalization of $1.45 billion, a P/E ratio of -49,574.11 and a beta of 0.41. Franklin Income Focus ETF has a 52-week low of $26.25 and a 52-week high of $29.57.
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.