Franklin FTSE India ETF (NYSEARCA:FLIN) Stock Short Interest Drops 85.5%

Franklin FTSE India ETF (NYSEARCA:FLIN) was the recipient of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 23,025 shares, a decline of 85.5% from the October 15th total of 158,504 shares. Based on an average trading volume of 221,416 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Franklin FTSE India ETF Stock Performance

Shares of Franklin FTSE India ETF stock opened at $36.89 on Wednesday. The firm has a fifty day moving average of $34.38 and a two-hundred day moving average of $35.19. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 21.26 and a beta of 0.49. Franklin FTSE India ETF has a 52 week low of $32.20 and a 52 week high of $39.43.

Hedge Funds Weigh In On Franklin FTSE India ETF

Several hedge funds have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC acquired a new position in Franklin FTSE India ETF in the third quarter valued at about $20,491,000. Bank of America Corp DE grew its position in shares of Franklin FTSE India ETF by 121.4% during 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 during the period. Royal Bank of Canada increased its stake 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 valued at $4,522,000 after acquiring an additional 22,146 shares during the last quarter. Juncture Wealth Strategies LLC bought a new stake in shares of Franklin FTSE India ETF in the 3rd quarter valued at about $3,863,000. Finally, Focus Financial Network Inc. increased its stake in shares of Franklin FTSE India ETF by 6.4% in the 3rd quarter. Focus Financial Network Inc. now owns 105,141 shares of the company’s stock valued at $3,521,000 after acquiring an additional 6,360 shares during the last quarter.

About Franklin FTSE India ETF

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.