Franklin Income Focus ETF (NYSEARCA:INCM) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Franklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 184,604 shares, a growth of 84.2% from the August 31st total of 100,217 shares. Based on an average trading volume of 393,034 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Trading of Franklin Income Focus ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Franklin Income Focus ETF during the 2nd quarter valued at about $1,101,000. Envestnet Asset Management Inc. raised its holdings in shares of Franklin Income Focus ETF by 47.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 111,839 shares of the company’s stock valued at $3,227,000 after purchasing an additional 35,894 shares in the last quarter. Wellington Altus USA Inc. lifted its stake in shares of Franklin Income Focus ETF by 17.1% in the 2nd quarter. Wellington Altus USA Inc. now owns 2,398 shares of the company’s stock valued at $69,000 after purchasing an additional 350 shares during the last quarter. Capital Analysts LLC lifted its stake in shares of Franklin Income Focus ETF by 7.5% in the 2nd quarter. Capital Analysts LLC now owns 61,064 shares of the company’s stock valued at $1,762,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings in Franklin Income Focus ETF by 108.1% during the second quarter. Citadel Advisors LLC now owns 42,856 shares of the company’s stock valued at $1,237,000 after buying an additional 22,266 shares in the last quarter.

Franklin Income Focus ETF Trading Down 0.7%

INCM stock traded down $0.19 during midday trading on Wednesday, reaching $28.46. The company had a trading volume of 450,567 shares, compared to its average volume of 369,232. Franklin Income Focus ETF has a 1 year low of $27.40 and a 1 year high of $29.95. The company has a market capitalization of $1.85 billion, a P/E ratio of -48,483.82 and a beta of 0.40. The company has a 50 day moving average of $29.29 and a two-hundred day moving average of $29.17.

About Franklin Income Focus ETF

(Get Free Report)

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.

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