Short Interest in Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Rises By 133.5%

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 17,520 shares, an increase of 133.5% from the May 14th total of 7,502 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 67,893 shares, the days-to-cover ratio is currently 0.3 days.

Franklin Investment Grade Corporate ETF Stock Performance

FLCO opened at $21.40 on Friday. Franklin Investment Grade Corporate ETF has a 12 month low of $21.09 and a 12 month high of $22.10. The company has a fifty day simple moving average of $21.40 and a 200 day simple moving average of $21.57.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Franklin Investment Grade Corporate ETF by 21.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,660 shares of the company’s stock valued at $58,000 after buying an additional 463 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Franklin Investment Grade Corporate ETF by 2.6% in the second quarter. Osaic Holdings Inc. now owns 21,471 shares of the company’s stock worth $463,000 after purchasing an additional 553 shares during the last quarter. HighTower Advisors LLC boosted its position in Franklin Investment Grade Corporate ETF by 6.2% during the fourth quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock valued at $356,000 after acquiring an additional 954 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Franklin Investment Grade Corporate ETF by 30.0% during the fourth quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock valued at $177,000 after purchasing an additional 1,891 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Franklin Investment Grade Corporate ETF by 9.4% during the second quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock valued at $553,000 after purchasing an additional 2,203 shares during the period.

About Franklin Investment Grade Corporate ETF

The Franklin Investment Grade Corporate ETF (FLCO) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that uses a combined top-down and bottom-up approach to select investment-grade USD-denominated bonds without a duration target. FLCO was launched on Oct 3, 2016 and is managed by Franklin Templeton.