Franklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 99,470 shares, a drop of 45.5% from the July 15th total of 182,519 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 423,490 shares, the short-interest ratio is presently 0.2 days.
Franklin Income Focus ETF Trading Down 0.3%
Shares of NYSEARCA INCM traded down $0.08 during trading on Monday, reaching $29.55. 348,511 shares of the company traded hands, compared to its average volume of 361,331. The stock has a market cap of $1.74 billion, a P/E ratio of -50,340.72 and a beta of 0.40. The firm’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $29.17. Franklin Income Focus ETF has a 12-month low of $27.33 and a 12-month high of $29.75.
Institutional Trading of Franklin Income Focus ETF
Several hedge funds and other institutional investors have recently bought and sold shares of INCM. LPL Financial LLC lifted its holdings in Franklin Income Focus ETF by 40.2% in the fourth quarter. LPL Financial LLC now owns 3,821,161 shares of the company’s stock valued at $107,145,000 after acquiring an additional 1,096,264 shares during the period. Wells Fargo & Company MN grew its stake in shares of Franklin Income Focus ETF by 23.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,966,825 shares of the company’s stock worth $55,150,000 after purchasing an additional 377,352 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Franklin Income Focus ETF by 15.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock valued at $54,148,000 after purchasing an additional 258,689 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Franklin Income Focus ETF by 16.7% during the 1st quarter. Royal Bank of Canada now owns 1,558,296 shares of the company’s stock valued at $44,801,000 after purchasing an additional 223,466 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Franklin Income Focus ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 1,341,701 shares of the company’s stock valued at $38,574,000 after purchasing an additional 102,252 shares in the last quarter.
About Franklin Income Focus ETF
The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.
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