Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Short Interest Down 51.5% in May

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 7,502 shares, a drop of 51.5% from the April 30th total of 15,463 shares. Based on an average daily trading volume, of 38,053 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Franklin Investment Grade Corporate ETF Stock Performance

NYSEARCA FLCO traded down $0.09 on Monday, reaching $21.39. 35,618 shares of the company were exchanged, compared to its average volume of 105,043. The business’s fifty day moving average price is $21.40 and its 200 day moving average price is $21.60. Franklin Investment Grade Corporate ETF has a fifty-two week low of $21.08 and a fifty-two week high of $22.10.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Franklin Investment Grade Corporate ETF by 21.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,660 shares of the company’s stock valued at $58,000 after buying an additional 463 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Franklin Investment Grade Corporate ETF during the 4th quarter worth approximately $58,000. Royal Bank of Canada lifted its holdings in Franklin Investment Grade Corporate ETF by 30.0% in the fourth quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock valued at $177,000 after acquiring an additional 1,891 shares during the last quarter. HighTower Advisors LLC grew its position in Franklin Investment Grade Corporate ETF by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock worth $356,000 after acquiring an additional 954 shares during the period. Finally, Brooklyn Investment Group grew its position in Franklin Investment Grade Corporate ETF by 433.7% in the third quarter. Brooklyn Investment Group now owns 19,204 shares of the company’s stock worth $420,000 after acquiring an additional 15,606 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.