Short Interest in Franklin Intelligent Machines ETF (BATS:IQM) Increases By 7,947.2%

Franklin Intelligent Machines ETF (BATS:IQM) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 298,310 shares, a growth of 7,947.2% from the May 31st total of 3,707 shares. Based on an average trading volume of 23,027 shares, the short-interest ratio is currently 13.0 days. Approximately 66.3% of the shares of the company are sold short.

Franklin Intelligent Machines ETF Stock Performance

Shares of Franklin Intelligent Machines ETF stock traded up $2.75 on Thursday, hitting $120.16. 3,162 shares of the company’s stock were exchanged, compared to its average volume of 7,705. Franklin Intelligent Machines ETF has a 1 year low of $72.85 and a 1 year high of $126.21. The company has a 50-day simple moving average of $113.02 and a 200-day simple moving average of $99.29. The stock has a market capitalization of $54.07 million, a PE ratio of 47.30 and a beta of 1.46.

Institutional Trading of Franklin Intelligent Machines ETF

Several hedge funds have recently bought and sold shares of IQM. Harbour Investments Inc. lifted its holdings in Franklin Intelligent Machines ETF by 8.6% in 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 in the last quarter. Diversify Advisory Services LLC grew its holdings in Franklin Intelligent Machines ETF by 13.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,595 shares of the company’s stock valued at $455,000 after buying an additional 671 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Franklin Intelligent Machines ETF by 26.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,212 shares of the company’s stock valued at $765,000 after buying an additional 2,143 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Franklin Intelligent Machines ETF during the fourth quarter valued at approximately $194,000. Finally, Commonwealth Equity Services LLC raised its position in shares of Franklin Intelligent Machines ETF by 47.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,697 shares of the company’s stock valued at $673,000 after buying an additional 2,477 shares during the last quarter.

Franklin Intelligent Machines ETF Company Profile

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.