Franklin Intelligent Machines ETF (BATS:IQM) Short Interest Down 39.2% in August

Franklin Intelligent Machines ETF (BATS:IQM) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 3,221 shares, a drop of 39.2% from the July 30th total of 5,296 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 20,185 shares, the days-to-cover ratio is presently 0.2 days.

Franklin Intelligent Machines ETF Price Performance

BATS IQM opened at $101.93 on Wednesday. The firm has a market capitalization of $45.87 million, a P/E ratio of 47.30 and a beta of 1.46. Franklin Intelligent Machines ETF has a 1-year low of $77.54 and a 1-year high of $126.21. The business’s 50-day simple moving average is $108.54 and its 200-day simple moving average is $105.16.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IQM. Franklin Resources Inc. acquired a new position in Franklin Intelligent Machines ETF during the fourth quarter valued at approximately $194,000. Harbour Investments Inc. increased its position in shares of 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 acquiring an additional 277 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Franklin Intelligent Machines ETF in the second quarter worth $338,000. Envestnet Asset Management Inc. purchased a new position in shares of Franklin Intelligent Machines ETF in the 3rd quarter valued at $361,000. Finally, Jane Street Group LLC purchased a new position in shares of Franklin Intelligent Machines ETF in the 4th quarter valued at $376,000.

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.