Short Interest in Franklin FTSE India ETF (NYSEARCA:FLIN) Drops By 71.6%

Franklin FTSE India ETF (NYSEARCA:FLIN) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 196,063 shares, a decline of 71.6% from the May 14th total of 689,814 shares. Based on an average daily trading volume, of 279,414 shares, the short-interest ratio is presently 0.7 days. Approximately 0.3% of the shares of the stock are sold short.

Franklin FTSE India ETF Price Performance

Shares of FLIN traded up $0.10 during midday trading on Thursday, reaching $34.04. The stock had a trading volume of 337,760 shares, compared to its average volume of 838,456. Franklin FTSE India ETF has a 52 week low of $32.20 and a 52 week high of $40.08. The firm’s 50 day moving average price is $34.75 and its 200-day moving average price is $36.37. The company has a market capitalization of $2.47 billion, a P/E ratio of 22.46 and a beta of 0.47.

Institutional Trading of Franklin FTSE India ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Franklin FTSE India ETF by 121.4% in the 1st quarter. Bank of America Corp DE now owns 430,376 shares of the company’s stock worth $14,297,000 after buying an additional 235,968 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Franklin FTSE India ETF by 8.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,039 shares of the company’s stock worth $267,000 after buying an additional 631 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Franklin FTSE India ETF by 19.4% in the 1st quarter. Royal Bank of Canada now owns 136,116 shares of the company’s stock worth $4,522,000 after acquiring an additional 22,146 shares during the last quarter. Mittelman Wealth Management grew its holdings in shares of Franklin FTSE India ETF by 19.6% in the 1st quarter. Mittelman Wealth Management now owns 47,360 shares of the company’s stock worth $1,573,000 after acquiring an additional 7,750 shares during the last quarter. Finally, Keebeck Wealth Management acquired a new position in shares of Franklin FTSE India ETF in the 1st quarter worth $452,000.

Franklin FTSE India ETF Company Profile

The Franklin FTSE India ETF (FLIN) is an exchange-traded fund that is based on the FTSE India RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Indian securities. FLIN was launched on Feb 6, 2018 and is managed by Franklin Templeton.