Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Short Interest Update
by Amy Steele · The Cerbat GemFranklin Investment Grade Corporate ETF (NYSEARCA:FLCO – Get Free Report) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 104,841 shares, a growth of 33.3% from the February 12th total of 78,622 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 129,482 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 129,482 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company’s shares are sold short.
Franklin Investment Grade Corporate ETF Trading Up 0.4%
Shares of FLCO traded up $0.08 during midday trading on Monday, hitting $21.38. The stock had a trading volume of 107,620 shares, compared to its average volume of 146,456. The stock’s 50 day moving average is $21.71 and its 200 day moving average is $21.77. Franklin Investment Grade Corporate ETF has a 1 year low of $20.59 and a 1 year high of $22.10.
Franklin Investment Grade Corporate ETF Cuts Dividend
The company also recently declared a monthly dividend, which was paid on Thursday, March 5th. Investors of record on Monday, March 2nd were issued a dividend of $0.0726 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, March 2nd.
Institutional Trading of Franklin Investment Grade Corporate ETF
Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Franklin Investment Grade Corporate ETF by 7.1% during the second quarter. Franklin Resources Inc. now owns 15,744,173 shares of the company’s stock valued at $339,838,000 after buying an additional 1,041,806 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Franklin Investment Grade Corporate ETF by 3.5% in the fourth quarter. Hantz Financial Services Inc. now owns 5,369,885 shares of the company’s stock worth $116,258,000 after buying an additional 181,499 shares during the period. Bank of America Corp DE lifted its stake in shares of Franklin Investment Grade Corporate ETF by 7.6% during the 2nd quarter. Bank of America Corp DE now owns 942,629 shares of the company’s stock worth $20,347,000 after acquiring an additional 66,524 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Franklin Investment Grade Corporate ETF by 36.4% during the 4th quarter. Sanctuary Advisors LLC now owns 380,169 shares of the company’s stock worth $8,231,000 after acquiring an additional 101,398 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Franklin Investment Grade Corporate ETF by 3.5% during the 4th quarter. Benjamin Edwards Inc. now owns 287,986 shares of the company’s stock valued at $6,235,000 after acquiring an additional 9,794 shares during the period.
Franklin Investment Grade Corporate ETF Company Profile
The Franklin Investment Grade Corporate ETF (FLCO) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that uses a combined top-down and bottom-up approach to select investment-grade USD-denominated bonds without a duration target. FLCO was launched on Oct 3, 2016 and is managed by Franklin Templeton.