Short Interest in Franklin Intelligent Machines ETF (BATS:IQM) Decreases By 98.5%

Franklin Intelligent Machines ETF (BATS:IQM) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 4,502 shares, a decline of 98.5% from the June 15th total of 298,310 shares. Based on an average daily trading volume, of 3,737 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.0% of the company’s shares are short sold.

Institutional Trading of Franklin Intelligent Machines ETF

Several institutional investors and hedge funds have recently made changes to their positions in IQM. Members Advisory Group LLC grew its stake in shares of Franklin Intelligent Machines ETF by 1,552.3% during the fourth quarter. Members Advisory Group LLC now owns 123,989 shares of the company’s stock worth $10,838,000 after purchasing an additional 116,485 shares during the period. Cetera Investment Advisers lifted its stake in Franklin Intelligent Machines ETF by 116.3% in the first quarter. Cetera Investment Advisers now owns 90,839 shares of the company’s stock valued at $8,035,000 after buying an additional 48,843 shares during the period. Citadel Advisors LLC boosted its holdings in Franklin Intelligent Machines ETF by 84.1% during the third quarter. Citadel Advisors LLC now owns 24,609 shares of the company’s stock worth $2,148,000 after buying an additional 11,239 shares during the last quarter. Diversify Wealth Management LLC bought a new position in Franklin Intelligent Machines ETF during the first quarter worth about $959,000. Finally, Flow Traders U.S. LLC bought a new position in Franklin Intelligent Machines ETF during the third quarter worth about $691,000.

Franklin Intelligent Machines ETF Stock Up 0.1%

BATS IQM traded up $0.16 during trading hours on Friday, hitting $113.87. The company’s stock had a trading volume of 2,879 shares, compared to its average volume of 7,387. The stock has a fifty day moving average of $115.55 and a 200 day moving average of $101.47. Franklin Intelligent Machines ETF has a twelve month low of $75.07 and a twelve month high of $126.21. The firm has a market capitalization of $51.24 million, a P/E ratio of 47.30 and a beta of 1.46.

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.