Franklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 184,604 shares, an increase of 84.2% from the August 31st total of 100,217 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 393,034 shares, the days-to-cover ratio is currently 0.5 days.
Franklin Income Focus ETF Price Performance
Shares of NYSEARCA:INCM opened at $28.46 on Thursday. Franklin Income Focus ETF has a 1 year low of $27.40 and a 1 year high of $29.95. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -48,483.82 and a beta of 0.40. The business’s 50 day moving average price is $29.29 and its 200-day moving average price is $29.17.
Hedge Funds Weigh In On Franklin Income Focus ETF
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCM. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Franklin Income Focus ETF during the 2nd quarter worth about $1,101,000. Envestnet Asset Management Inc. lifted its stake in Franklin Income Focus ETF by 47.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 111,839 shares of the company’s stock valued at $3,227,000 after buying an additional 35,894 shares in the last quarter. Wellington Altus USA Inc. lifted its stake in Franklin Income Focus ETF by 17.1% in the 2nd quarter. Wellington Altus USA Inc. now owns 2,398 shares of the company’s stock valued at $69,000 after buying an additional 350 shares in the last quarter. Capital Analysts LLC boosted its holdings in Franklin Income Focus ETF by 7.5% in the 2nd quarter. Capital Analysts LLC now owns 61,064 shares of the company’s stock worth $1,762,000 after buying an additional 4,265 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Franklin Income Focus ETF by 108.1% in the 2nd quarter. Citadel Advisors LLC now owns 42,856 shares of the company’s stock worth $1,237,000 after buying an additional 22,266 shares during 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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