Franklin Income Equity Focus ETF (NYSEARCA:INCE) Sees Large Growth in Short Interest
by Jessica Moore · The Cerbat GemFranklin Income Equity Focus ETF (NYSEARCA:INCE – Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 14,885 shares, a growth of 273.2% from the April 30th total of 3,989 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,700 shares, the days-to-cover ratio is currently 0.9 days.
Hedge Funds Weigh In On Franklin Income Equity Focus ETF
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in shares of Franklin Income Equity Focus ETF by 1.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 16,728 shares of the company’s stock worth $1,022,000 after buying an additional 229 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Franklin Income Equity Focus ETF by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 867 shares of the company’s stock worth $50,000 after buying an additional 233 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Franklin Income Equity Focus ETF by 4.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,324 shares of the company’s stock worth $375,000 after buying an additional 246 shares during the period. Wealthspire Retirement LLC lifted its position in shares of Franklin Income Equity Focus ETF by 3.5% during the 4th quarter. Wealthspire Retirement LLC now owns 12,611 shares of the company’s stock worth $770,000 after buying an additional 431 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Franklin Income Equity Focus ETF during the 1st quarter worth approximately $33,000.
Franklin Income Equity Focus ETF Price Performance
Shares of Franklin Income Equity Focus ETF stock traded up $0.17 during midday trading on Friday, hitting $67.54. 54,009 shares of the company were exchanged, compared to its average volume of 14,987. The firm has a market cap of $118.20 million, a P/E ratio of 17.48 and a beta of 0.75. Franklin Income Equity Focus ETF has a 52 week low of $55.12 and a 52 week high of $68.00. The firm has a 50 day simple moving average of $66.00 and a 200-day simple moving average of $64.08.
About Franklin Income Equity Focus ETF
The Franklin Income Equity Focus ETF (INCE) is an exchange-traded fund that mostly invests in total market equity. The fund seeks income and capital appreciation with lower volatility than the S&P 500 Index. The fund invests in stocks globally using proprietary fundamental research. INCE was launched on Sep 20, 2016 and is issued by Franklin Templeton.