Franklin High Yield Corporate ETF (BATS:FLHY) Sees Significant Drop in Short Interest

Franklin High Yield Corporate ETF (BATS:FLHY) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 47,718 shares, a drop of 61.8% from the May 14th total of 124,964 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 256,991 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Franklin High Yield Corporate ETF

Hedge funds have recently bought and sold shares of the stock. Diversify Advisory Services LLC acquired a new stake in Franklin High Yield Corporate ETF during the fourth quarter worth approximately $1,170,000. Assetmark Inc. increased its holdings in shares of Franklin High Yield Corporate ETF by 5.4% during the fourth quarter. Assetmark Inc. now owns 832,848 shares of the company’s stock worth $20,334,000 after purchasing an additional 42,330 shares during the period. Sequent Planning LLC bought a new position in shares of Franklin High Yield Corporate ETF during the third quarter worth approximately $710,000. Clear Creek Financial Management LLC bought a new position in shares of Franklin High Yield Corporate ETF during the fourth quarter worth approximately $590,000. Finally, CWM LLC increased its holdings in shares of Franklin High Yield Corporate ETF by 74.6% during the fourth quarter. CWM LLC now owns 68,856 shares of the company’s stock worth $1,681,000 after purchasing an additional 29,414 shares during the period.

Franklin High Yield Corporate ETF Stock Performance

Shares of FLHY stock opened at $24.24 on Friday. The firm has a 50 day moving average price of $24.28 and a two-hundred day moving average price of $24.36. Franklin High Yield Corporate ETF has a 12-month low of $23.82 and a 12-month high of $24.63.

About Franklin High Yield Corporate ETF

The Franklin High Yield Corporate ETF (FLHY) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is actively managed portfolio of global high-yield corporate debt. The fund seeks high current income, with capital appreciation as a secondary goal. FLHY was launched on May 30, 2018 and is managed by Franklin Templeton.