Franklin Intelligent Machines ETF (BATS:IQM) Short Interest Up 64.0% in May

Franklin Intelligent Machines ETF (BATS:IQM) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 4,442 shares, an increase of 64.0% from the April 30th total of 2,709 shares. Based on an average trading volume of 4,454 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.0% of the shares of the stock are sold short.

Franklin Intelligent Machines ETF Stock Performance

Shares of BATS:IQM opened at $122.54 on Thursday. The firm has a fifty day moving average price of $105.13 and a 200 day moving average price of $95.93. Franklin Intelligent Machines ETF has a fifty-two week low of $69.27 and a fifty-two week high of $123.33. The firm has a market cap of $55.14 million, a price-to-earnings ratio of 47.30 and a beta of 1.46.

Hedge Funds Weigh In On Franklin Intelligent Machines ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in shares of Franklin Intelligent Machines ETF during the fourth quarter worth $194,000. Harbour Investments Inc. lifted its position in Franklin Intelligent Machines ETF by 8.6% during the fourth quarter. Harbour Investments Inc. now owns 3,498 shares of the company’s stock valued at $306,000 after purchasing an additional 277 shares during the last quarter. Truist Financial Corp bought a new position in Franklin Intelligent Machines ETF during the third quarter valued at $338,000. Envestnet Asset Management Inc. bought a new position in Franklin Intelligent Machines ETF during the third quarter valued at $361,000. Finally, Jane Street Group LLC bought a new position in Franklin Intelligent Machines ETF during the fourth quarter valued at $376,000.

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.