Franklin Income Focus ETF (NYSEARCA:INCM) Short Interest Up 338.9% in August
by Sarita Garza · The Markets DailyFranklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 100,217 shares, an increase of 338.9% from the August 15th total of 22,835 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 371,630 shares, the days-to-cover ratio is currently 0.3 days.
Franklin Income Focus ETF Stock Up 0.1%
Shares of INCM stock opened at $29.23 on Friday. Franklin Income Focus ETF has a fifty-two week low of $27.40 and a fifty-two week high of $29.95. The firm’s 50 day moving average price is $29.33 and its two-hundred day moving average price is $29.20. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -49,795.57 and a beta of 0.40.
Institutional Trading of Franklin Income Focus ETF
Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its position in Franklin Income Focus ETF by 43.0% in the first quarter. Assetmark Inc. now owns 1,797 shares of the company’s stock valued at $52,000 after purchasing an additional 540 shares during the period. Comerica Bank purchased a new stake in shares of Franklin Income Focus ETF in the first quarter worth about $53,000. Geneos Wealth Management Inc. purchased a new stake in shares of Franklin Income Focus ETF in the first quarter worth about $62,000. International Assets Investment Management LLC purchased a new stake in shares of Franklin Income Focus ETF in the fourth quarter worth about $90,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Franklin Income Focus ETF in the first quarter valued at about $120,000.
Franklin Income Focus ETF Company Profile
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.