Franklin Income Focus ETF (NYSEARCA:INCM) Shares Shorted: Short Interest Up 90.6% in October

Franklin Income Focus ETF (NYSEARCA:INCM) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 203,631 shares, an increase of 90.6% from the September 30th total of 106,843 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 415,110 shares, the days-to-cover ratio is presently 0.5 days.

Franklin Income Focus ETF Stock Performance

Shares of INCM stock opened at $29.20 on Friday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -49,744.46 and a beta of 0.41. Franklin Income Focus ETF has a one year low of $27.40 and a one year high of $29.95. The company’s 50-day moving average is $29.08 and its 200 day moving average is $29.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INCM. Barrett & Company Inc. bought a new position in shares of Franklin Income Focus ETF in the 3rd quarter worth approximately $43,000. Latitude Advisors LLC purchased a new position in Franklin Income Focus ETF during the third quarter valued at $45,000. Assetmark Inc. grew its holdings in Franklin Income Focus ETF by 43.0% during the first quarter. Assetmark Inc. now owns 1,797 shares of the company’s stock valued at $52,000 after purchasing an additional 540 shares during the period. Geneos Wealth Management Inc. bought a new stake in Franklin Income Focus ETF during the first quarter valued at about $62,000. Finally, Wellington Altus USA Inc. increased its position in Franklin Income Focus ETF by 17.1% in the second quarter. Wellington Altus USA Inc. now owns 2,398 shares of the company’s stock worth $69,000 after buying an additional 350 shares in 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.