Short Interest in Franklin Intelligent Machines ETF (BATS:IQM) Expands By 300.1%

Franklin Intelligent Machines ETF (BATS:IQM) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 12,887 shares, an increase of 300.1% from the August 15th total of 3,221 shares. Based on an average daily trading volume, of 6,237 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On Franklin Intelligent Machines ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new stake in shares of Franklin Intelligent Machines ETF in the fourth quarter valued at approximately $194,000. Harbour Investments Inc. raised its position in shares of Franklin Intelligent Machines ETF by 8.6% during the 4th quarter. Harbour Investments Inc. now owns 3,498 shares of the company’s stock worth $306,000 after purchasing an additional 277 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Franklin Intelligent Machines ETF in the 2nd quarter valued at approximately $338,000. Envestnet Asset Management Inc. purchased a new stake in Franklin Intelligent Machines ETF in the 3rd quarter valued at approximately $361,000. Finally, Jane Street Group LLC purchased a new stake in Franklin Intelligent Machines ETF in the 4th quarter valued at approximately $376,000.

Franklin Intelligent Machines ETF Price Performance

BATS:IQM opened at $107.35 on Monday. Franklin Intelligent Machines ETF has a 52-week low of $79.59 and a 52-week high of $126.21. The stock has a fifty day simple moving average of $106.75 and a 200-day simple moving average of $105.87. The company has a market capitalization of $48.31 million, a PE ratio of 47.30 and a beta of 1.46.

About Franklin Intelligent Machines ETF

The Franklin Intelligent Machines ETF (IQM) is an exchange-traded fund that is based on the Russell 3000 index. The fund is an actively managed portfolio of global equity securities of companies that are relevant to intelligent machines. IQM was launched on Feb 25, 2020 and is managed by Franklin Templeton.