Franklin Intelligent Machines ETF (BATS:IQM – Get Free Report) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 3,245 shares, a decline of 69.6% from the September 15th total of 10,663 shares. Based on an average trading volume of 2,814 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.7% of the company’s stock are short sold.
Hedge Funds Weigh In On Franklin Intelligent Machines ETF
Large investors have recently modified their holdings of the stock. Avior Wealth Management LLC purchased a new position in Franklin Intelligent Machines ETF in the second quarter worth about $338,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Franklin Intelligent Machines ETF in the second quarter worth approximately $445,000. Howard Financial Services LTD. purchased a new stake in shares of Franklin Intelligent Machines ETF during the second quarter valued at approximately $532,000. Diversify Wealth Management LLC purchased a new stake in shares of Franklin Intelligent Machines ETF during the first quarter valued at approximately $959,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Franklin Intelligent Machines ETF by 1,048.7% during the second quarter. Envestnet Asset Management Inc. now owns 47,729 shares of the company’s stock valued at $5,927,000 after buying an additional 43,574 shares during the last quarter.
Franklin Intelligent Machines ETF Trading Down 2.9%
BATS IQM opened at $108.23 on Tuesday. Franklin Intelligent Machines ETF has a 12 month low of $79.59 and a 12 month high of $126.21. The stock has a market cap of $48.70 million, a P/E ratio of 47.30 and a beta of 1.46. The stock’s fifty day moving average price is $108.08 and its 200-day moving average price is $108.41.
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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