Franklin Intelligent Machines ETF (BATS:IQM – Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 4,442 shares, a growth of 64.0% from the April 30th total of 2,709 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 4,454 shares, the short-interest ratio is currently 1.0 days.
Franklin Intelligent Machines ETF Stock Performance
Shares of IQM traded down $1.89 during trading hours on Wednesday, reaching $121.11. 2,366 shares of the company traded hands, compared to its average volume of 6,225. The stock’s fifty day moving average is $103.86 and its 200 day moving average is $95.43. The stock has a market cap of $54.50 million, a P/E ratio of 47.30 and a beta of 1.46. Franklin Intelligent Machines ETF has a 1-year low of $69.27 and a 1-year high of $123.00.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. raised its position in Franklin Intelligent Machines ETF by 8.6% in the fourth 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 raised its position in Franklin Intelligent Machines ETF by 13.6% in the second quarter. Diversify Advisory Services LLC now owns 5,595 shares of the company’s stock worth $455,000 after purchasing an additional 671 shares in the last quarter. Osaic Holdings Inc. raised its position in Franklin Intelligent Machines ETF by 26.6% in the second quarter. Osaic Holdings Inc. now owns 10,212 shares of the company’s stock worth $765,000 after purchasing an additional 2,143 shares in the last quarter. Franklin Resources Inc. acquired a new position in Franklin Intelligent Machines ETF in the fourth quarter worth about $194,000. Finally, Commonwealth Equity Services LLC raised its position in Franklin Intelligent Machines ETF by 47.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,697 shares of the company’s stock worth $673,000 after purchasing an additional 2,477 shares in the last quarter.
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.
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