Franklin FTSE Canada ETF (NYSEARCA:FLCA) Sees Significant Growth in Short Interest

Franklin FTSE Canada ETF (NYSEARCA:FLCA) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 467,629 shares, a growth of 1,325.1% from the January 29th total of 32,813 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average daily volume of 56,473 shares, the days-to-cover ratio is currently 8.3 days. Based on an average daily volume of 56,473 shares, the days-to-cover ratio is currently 8.3 days. Approximately 3.7% of the company’s shares are short sold.

Franklin FTSE Canada ETF Trading Up 0.6%

Shares of FLCA traded up $0.30 on Wednesday, reaching $51.39. 24,956 shares of the company’s stock were exchanged, compared to its average volume of 66,483. The business has a 50 day moving average price of $49.34 and a two-hundred day moving average price of $46.64. Franklin FTSE Canada ETF has a 12 month low of $33.59 and a 12 month high of $51.64. The stock has a market capitalization of $644.94 million, a P/E ratio of 19.67 and a beta of 0.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Franklin FTSE Canada ETF by 520.4% during the fourth quarter. Royal Bank of Canada now owns 272,728 shares of the company’s stock worth $13,173,000 after purchasing an additional 228,769 shares during the period. Simon Quick Advisors LLC acquired a new position in Franklin FTSE Canada ETF in the second quarter valued at about $5,034,000. ES4 LLC bought a new position in Franklin FTSE Canada ETF during the fourth quarter worth about $4,588,000. Wells Fargo & Company MN grew its position in shares of Franklin FTSE Canada ETF by 2,881,250.0% during the 4th quarter. Wells Fargo & Company MN now owns 57,627 shares of the company’s stock worth $2,783,000 after buying an additional 57,625 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Franklin FTSE Canada ETF by 1.5% during the 3rd quarter. Bank of America Corp DE now owns 3,506,742 shares of the company’s stock worth $159,216,000 after buying an additional 51,324 shares during the period.

About Franklin FTSE Canada ETF

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.