Franklin Income Equity Focus ETF (NYSEARCA:INCE) Sees Significant Drop in Short Interest

Franklin Income Equity Focus ETF (NYSEARCA:INCE) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 3,989 shares, a drop of 46.9% from the April 15th total of 7,514 shares. Based on an average daily volume of 11,170 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Franklin Income Equity Focus ETF

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Franklin Income Equity Focus ETF by 1.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 16,728 shares of the company’s stock worth $1,022,000 after acquiring an additional 229 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Franklin Income Equity Focus ETF by 36.8% in the second quarter. JPMorgan Chase & Co. now owns 867 shares of the company’s stock worth $50,000 after purchasing an additional 233 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Franklin Income Equity Focus ETF by 4.0% in the third quarter. Cornerstone Wealth Management LLC now owns 6,324 shares of the company’s stock worth $375,000 after purchasing an additional 246 shares in the last quarter. Wealthspire Retirement LLC boosted its holdings in Franklin Income Equity Focus ETF by 3.5% during the fourth quarter. Wealthspire Retirement LLC now owns 12,611 shares of the company’s stock worth $770,000 after purchasing an additional 431 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Franklin Income Equity Focus ETF in the fourth quarter valued at $35,000.

Franklin Income Equity Focus ETF Trading Down 0.4%

Shares of INCE stock traded down $0.25 on Friday, hitting $66.58. 21,298 shares of the stock were exchanged, compared to its average volume of 14,824. The firm has a market capitalization of $116.52 million, a P/E ratio of 17.48 and a beta of 0.75. The business has a 50-day moving average of $65.58 and a 200 day moving average of $63.52. Franklin Income Equity Focus ETF has a fifty-two week low of $54.95 and a fifty-two week high of $67.32.

About Franklin Income Equity Focus ETF

The Franklin Income Equity Focus ETF (INCE) is an exchange-traded fund that mostly invests in total market equity. The fund seeks income and capital appreciation with lower volatility than the S&P 500 Index. The fund invests in stocks globally using proprietary fundamental research. INCE was launched on Sep 20, 2016 and is issued by Franklin Templeton.