Franklin Intelligent Machines ETF (BATS:IQM) Sees Large Decrease in Short Interest

Franklin Intelligent Machines ETF (BATS:IQM) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 1,270 shares, a decline of 60.9% from the September 30th total of 3,245 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 1,810 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Franklin Intelligent Machines ETF

A number of hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC purchased a new position in Franklin Intelligent Machines ETF in the 2nd quarter worth approximately $338,000. Envestnet Portfolio Solutions Inc. acquired a new position in Franklin Intelligent Machines ETF in the second quarter valued at about $445,000. Howard Financial Services LTD. acquired a new position in shares of Franklin Intelligent Machines ETF in the 2nd quarter worth approximately $532,000. Diversify Wealth Management LLC purchased a new position in shares of Franklin Intelligent Machines ETF during the first quarter worth $959,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Franklin Intelligent Machines ETF by 1,048.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,729 shares of the company’s stock valued at $5,927,000 after acquiring an additional 43,574 shares during the period.

Franklin Intelligent Machines ETF Stock Performance

BATS:IQM opened at $100.08 on Thursday. The stock has a market capitalization of $45.04 million, a PE ratio of 47.30 and a beta of 1.46. Franklin Intelligent Machines ETF has a fifty-two week low of $79.59 and a fifty-two week high of $126.21. The company has a fifty day moving average of $105.44 and a two-hundred day moving average of $103.90.

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.