Franklin Income Focus ETF (NYSEARCA:INCM) Sees Significant Decrease in Short Interest

Franklin Income Focus ETF (NYSEARCA:INCM) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 22,835 shares, a drop of 77.0% from the July 30th total of 99,470 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 398,979 shares, the days-to-cover ratio is presently 0.1 days.

Franklin Income Focus ETF Stock Down 0.3%

Shares of NYSEARCA:INCM traded down $0.09 during midday trading on Friday, reaching $29.53. 405,189 shares of the company were exchanged, compared to its average volume of 362,169. The firm has a market cap of $1.74 billion, a PE ratio of -50,306.64 and a beta of 0.40. Franklin Income Focus ETF has a fifty-two week low of $27.40 and a fifty-two week high of $29.95. The stock has a fifty day simple moving average of $29.27 and a two-hundred day simple moving average of $29.20.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. LPL Financial LLC grew its holdings in Franklin Income Focus ETF by 40.2% during the fourth quarter. LPL Financial LLC now owns 3,821,161 shares of the company’s stock worth $107,145,000 after purchasing an additional 1,096,264 shares during the period. Wells Fargo & Company MN lifted its position in shares of Franklin Income Focus ETF by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,966,825 shares of the company’s stock valued at $55,150,000 after buying an additional 377,352 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Franklin Income Focus ETF by 15.3% in the third quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock valued at $54,148,000 after buying an additional 258,689 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Franklin Income Focus ETF by 16.7% during the 1st quarter. Royal Bank of Canada now owns 1,558,296 shares of the company’s stock worth $44,801,000 after acquiring an additional 223,466 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Franklin Income Focus ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 1,341,701 shares of the company’s stock worth $38,574,000 after acquiring an additional 102,252 shares during the period.

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.