Elequin Capital LP Trims Stock Holdings in Franklin Income Focus ETF $INCM

Elequin Capital LP lowered its stake in Franklin Income Focus ETF (NYSEARCA:INCM) by 97.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,061 shares of the company’s stock after selling 91,034 shares during the quarter. Elequin Capital LP’s holdings in Franklin Income Focus ETF were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Franklin Income Focus ETF by 487.7% during the 3rd quarter. Bank of America Corp DE now owns 141,450 shares of the company’s stock valued at $3,924,000 after acquiring an additional 117,382 shares during the period. Ameriprise Financial Inc. increased its holdings in Franklin Income Focus ETF by 32.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 908,507 shares of the company’s stock worth $25,203,000 after acquiring an additional 223,654 shares in the last quarter. Raymond James Financial Inc. raised its stake in Franklin Income Focus ETF by 15.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock worth $54,148,000 after acquiring an additional 258,689 shares during the period. Equitable Holdings Inc. raised its stake in Franklin Income Focus ETF by 49.8% during the 3rd quarter. Equitable Holdings Inc. now owns 14,247 shares of the company’s stock worth $395,000 after acquiring an additional 4,736 shares during the period. Finally, WCG Wealth Advisors LLC lifted its holdings in Franklin Income Focus ETF by 18.0% during the third quarter. WCG Wealth Advisors LLC now owns 11,800 shares of the company’s stock valued at $327,000 after purchasing an additional 1,800 shares in the last quarter.

Franklin Income Focus ETF Price Performance

INCM opened at $28.83 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of -49,114.14 and a beta of 0.49. Franklin Income Focus ETF has a 1-year low of $24.62 and a 1-year high of $29.57. The company has a 50 day simple moving average of $29.02 and a two-hundred day simple moving average of $28.25.

Franklin Income Focus ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, March 4th. Investors of record on Friday, February 27th were paid a dividend of $0.13 per share. This is a positive change from Franklin Income Focus ETF’s previous monthly dividend of $0.12. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. Franklin Income Focus ETF’s dividend payout ratio is presently -241,908.00%.

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.