Short Interest in Franklin Income Focus ETF (NYSEARCA:INCM) Rises By 24.7%

Franklin Income Focus ETF (NYSEARCA:INCM) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 55,287 shares, a growth of 24.7% from the December 15th total of 44,337 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 273,967 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 273,967 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Franklin Income Focus ETF Stock Performance

Shares of NYSEARCA:INCM remained flat at $28.64 during midday trading on Monday. The stock had a trading volume of 317,813 shares, compared to its average volume of 329,401. The company has a 50-day simple moving average of $28.08 and a two-hundred day simple moving average of $27.74. Franklin Income Focus ETF has a 52-week low of $24.62 and a 52-week high of $28.78. The stock has a market cap of $1.15 billion, a P/E ratio of -48,790.46 and a beta of 0.49.

Institutional Trading of Franklin Income Focus ETF

Institutional investors have recently modified their holdings of the stock. Summit Investment Advisory Services LLC purchased a new position in shares of Franklin Income Focus ETF during the 3rd quarter worth $24,675,000. Base Wealth Management LLC acquired a new stake in Franklin Income Focus ETF during the second quarter worth about $7,346,000. Osaic Holdings Inc. increased its position in Franklin Income Focus ETF by 108.2% during the second quarter. Osaic Holdings Inc. now owns 520,504 shares of the company’s stock worth $14,081,000 after purchasing an additional 270,461 shares during the last quarter. Raymond James Financial Inc. raised its stake in Franklin Income Focus ETF by 15.3% during the third quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock worth $54,148,000 after purchasing an additional 258,689 shares during the period. Finally, Ameriprise Financial Inc. boosted 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 valued at $25,203,000 after purchasing an additional 223,654 shares during the last quarter.

Franklin Income Focus ETF Company Profile

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.