Franklin FTSE Canada ETF (NYSEARCA:FLCA) Sees Large Drop in Short Interest

Franklin FTSE Canada ETF (NYSEARCA:FLCA) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 45,685 shares, a drop of 52.5% from the September 30th total of 96,124 shares. Based on an average daily volume of 33,738 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.3% of the shares of the stock are sold short.

Franklin FTSE Canada ETF Price Performance

FLCA stock traded down $0.72 during mid-day trading on Friday, reaching $54.17. 23,208 shares of the company traded hands, compared to its average volume of 63,269. The company has a market capitalization of $855.89 million, a P/E ratio of 19.67 and a beta of 0.86. Franklin FTSE Canada ETF has a 52-week low of $44.17 and a 52-week high of $55.96. The company has a fifty day moving average price of $53.96 and a 200-day moving average price of $52.07.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its stake in Franklin FTSE Canada ETF by 170.5% during the third quarter. TD Waterhouse Canada Inc. now owns 3,143 shares of the company’s stock valued at $164,000 after buying an additional 1,981 shares during the period. Boltwood Capital Management bought a new stake in shares of Franklin FTSE Canada ETF during the 3rd quarter valued at about $211,000. Aureum Wealth Management LLC boosted its position in shares of Franklin FTSE Canada ETF by 2.7% during the 2nd quarter. Aureum Wealth Management LLC now owns 55,037 shares of the company’s stock valued at $2,833,000 after acquiring an additional 1,467 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Franklin FTSE Canada ETF by 20.4% during the first quarter. Bank of America Corp DE now owns 4,251,730 shares of the company’s stock worth $208,080,000 after purchasing an additional 720,745 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Franklin FTSE Canada ETF during the first quarter worth about $231,000.

Franklin FTSE Canada ETF Company Profile

The Franklin FTSE Canada ETF (FLCA) is an exchange-traded fund that is based on the FTSE Canada RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Canadian stocks. FLCA was launched on Nov 2, 2017 and is managed by Franklin Templeton.