Franklin Income Focus ETF (NYSEARCA:INCM) Sees Large Increase in Short Interest

Franklin Income Focus ETF (NYSEARCA:INCM) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 182,519 shares, an increase of 112.9% from the June 30th total of 85,710 shares. Based on an average trading volume of 409,377 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the company are short sold.

Franklin Income Focus ETF Stock Up 0.4%

NYSEARCA:INCM traded up $0.11 on Thursday, hitting $29.22. The stock had a trading volume of 560,666 shares, compared to its average volume of 358,517. The business’s 50-day simple moving average is $29.16 and its two-hundred day simple moving average is $29.10. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -49,778.53 and a beta of 0.41. Franklin Income Focus ETF has a 52-week low of $26.95 and a 52-week high of $29.57.

Hedge Funds Weigh In On Franklin Income Focus ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. KWB Wealth purchased a new stake in Franklin Income Focus ETF during the second quarter valued at approximately $325,000. Next Level Private LLC raised its position in Franklin Income Focus ETF by 11.1% in the second 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. boosted its stake in shares of 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 last quarter. Western Wealth Management LLC purchased a new position in shares of Franklin Income Focus ETF during the 1st quarter worth $120,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Franklin Income Focus ETF by 12.3% during the 1st quarter. NewEdge Advisors LLC now owns 117,043 shares of the company’s stock worth $3,365,000 after acquiring an additional 12,793 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.