Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sees Large Growth in Short Interest

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 78,622 shares, an increase of 171.5% from the January 29th total of 28,956 shares. Based on an average daily volume of 189,855 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 189,855 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLCO. Hantz Financial Services Inc. lifted its holdings in Franklin Investment Grade Corporate ETF by 5.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 5,110,382 shares of the company’s stock worth $110,308,000 after buying an additional 277,363 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Franklin Investment Grade Corporate ETF by 20.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 278,192 shares of the company’s stock valued at $6,087,000 after acquiring an additional 48,138 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Franklin Investment Grade Corporate ETF during the 2nd quarter valued at approximately $109,000. Envestnet Asset Management Inc. lifted its stake in Franklin Investment Grade Corporate ETF by 22.5% during the second quarter. Envestnet Asset Management Inc. now owns 187,734 shares of the company’s stock worth $4,052,000 after purchasing an additional 34,458 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Franklin Investment Grade Corporate ETF by 7.1% in the second quarter. Franklin Resources Inc. now owns 15,744,173 shares of the company’s stock worth $339,838,000 after purchasing an additional 1,041,806 shares during the period.

Franklin Investment Grade Corporate ETF Stock Performance

Shares of FLCO traded down $0.03 during trading on Friday, reaching $21.86. The company’s stock had a trading volume of 700,345 shares, compared to its average volume of 116,517. The company has a fifty day moving average of $21.73 and a two-hundred day moving average of $21.77. Franklin Investment Grade Corporate ETF has a twelve month low of $20.59 and a twelve month high of $22.10.

Franklin Investment Grade Corporate ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were issued a $0.0729 dividend. This is a boost from Franklin Investment Grade Corporate ETF’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, February 2nd.

About Franklin Investment Grade Corporate ETF

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.