Franklin Intelligent Machines ETF (BATS:IQM) Stock Short Interest Falls 69.6%

Franklin Intelligent Machines ETF (BATS:IQM) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 3,245 shares, a decline of 69.6% from the September 15th total of 10,663 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,814 shares, the short-interest ratio is currently 1.2 days.

Franklin Intelligent Machines ETF Price Performance

Shares of IQM stock opened at $107.69 on Wednesday. The company has a market capitalization of $48.46 million, a P/E ratio of 47.30 and a beta of 1.46. The company’s 50-day simple moving average is $108.04 and its two-hundred day simple moving average is $108.51. Franklin Intelligent Machines ETF has a one year low of $79.59 and a one year high of $126.21.

Institutional Trading of Franklin Intelligent Machines ETF

Hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC purchased a new stake in shares of Franklin Intelligent Machines ETF in the 2nd quarter worth approximately $338,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Franklin Intelligent Machines ETF in the 2nd quarter worth $445,000. Howard Financial Services LTD. acquired a new stake in Franklin Intelligent Machines ETF in the second quarter worth about $532,000. Diversify Wealth Management LLC purchased a new stake in Franklin Intelligent Machines ETF during the 1st quarter worth approximately $959,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Franklin Intelligent Machines ETF by 1,048.7% during the second quarter. Envestnet Asset Management Inc. now owns 47,729 shares of the company’s stock valued at $5,927,000 after buying an additional 43,574 shares during the last quarter.

Franklin Intelligent Machines ETF Company Profile

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.