Franklin FTSE India ETF (NYSEARCA:FLIN) Sees Significant Decline in Short Interest

Franklin FTSE India ETF (NYSEARCA:FLIN) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 196,063 shares, a drop of 71.6% from the May 14th total of 689,814 shares. Based on an average trading volume of 279,414 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the shares of the company are short sold.

Franklin FTSE India ETF Price Performance

Shares of FLIN stock traded up $0.38 during midday trading on Friday, hitting $34.62. The company had a trading volume of 530,127 shares, compared to its average volume of 838,020. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 22.46 and a beta of 0.47. The company’s 50 day simple moving average is $34.80 and its 200 day simple moving average is $36.32. Franklin FTSE India ETF has a 52-week low of $32.20 and a 52-week high of $40.08.

Institutional Investors Weigh In On Franklin FTSE India ETF

Hedge funds have recently modified their holdings of the stock. Advocate Investing Services LLC acquired a new stake in shares of Franklin FTSE India ETF during the fourth quarter worth $25,000. Eagle Bay Advisors LLC acquired a new stake in shares of Franklin FTSE India ETF during the fourth quarter worth $26,000. Ankerstar Wealth LLC acquired a new stake in shares of Franklin FTSE India ETF during the fourth quarter worth $31,000. Dunhill Financial LLC acquired a new stake in shares of Franklin FTSE India ETF during the fourth quarter worth $34,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Franklin FTSE India ETF during the fourth quarter worth $36,000.

About Franklin FTSE India ETF

The Franklin FTSE India ETF (FLIN) is an exchange-traded fund that is based on the FTSE India RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Indian securities. FLIN was launched on Feb 6, 2018 and is managed by Franklin Templeton.