Franklin Income Focus ETF (NYSEARCA:INCM) Sees Significant Drop in Short Interest

Franklin Income Focus ETF (NYSEARCA:INCM) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 85,710 shares, a decrease of 40.2% from the June 15th total of 143,382 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 354,523 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Franklin Income Focus ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KWB Wealth purchased a new position in shares of Franklin Income Focus ETF during the 2nd quarter valued at about $325,000. Next Level Private LLC raised its stake in Franklin Income Focus ETF by 11.1% during the 2nd quarter. Next Level Private LLC now owns 439,360 shares of the company’s stock worth $12,678,000 after acquiring an additional 43,892 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Franklin Income Focus ETF by 3.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 19,664 shares of the company’s stock worth $567,000 after acquiring an additional 659 shares during the period. Western Wealth Management LLC purchased a new position in Franklin Income Focus ETF during the first quarter valued at approximately $120,000. Finally, NewEdge Advisors LLC lifted its holdings in Franklin Income Focus ETF by 12.3% during the first quarter. NewEdge Advisors LLC now owns 117,043 shares of the company’s stock valued at $3,365,000 after purchasing an additional 12,793 shares in the last quarter.

Franklin Income Focus ETF Price Performance

NYSEARCA INCM traded down $0.01 during trading hours on Friday, hitting $29.12. The company’s stock had a trading volume of 353,838 shares, compared to its average volume of 352,296. Franklin Income Focus ETF has a 12 month low of $26.95 and a 12 month high of $29.57. The company’s 50 day simple moving average is $29.18 and its two-hundred day simple moving average is $29.04. The company has a market cap of $1.66 billion, a P/E ratio of -49,608.18 and a beta of 0.41.

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.