Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sees Large Growth in Short Interest

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 157,576 shares, an increase of 50.3% from the February 26th total of 104,841 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 267,169 shares, the short-interest ratio is currently 0.6 days.

Franklin Investment Grade Corporate ETF Trading Down 0.1%

FLCO traded down $0.03 on Friday, reaching $21.21. 32,452 shares of the company traded hands, compared to its average volume of 135,692. Franklin Investment Grade Corporate ETF has a one year low of $20.59 and a one year high of $22.10. The firm has a fifty day simple moving average of $21.64 and a two-hundred day simple moving average of $21.74.

Institutional Trading of Franklin Investment Grade Corporate ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Franklin Investment Grade Corporate ETF by 21.1% during 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 during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Franklin Investment Grade Corporate ETF in the 4th quarter worth approximately $58,000. Royal Bank of Canada raised its stake in shares of Franklin Investment Grade Corporate ETF by 30.0% during the 4th quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock worth $177,000 after acquiring an additional 1,891 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Franklin Investment Grade Corporate ETF by 6.2% during the 4th quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock worth $356,000 after acquiring an additional 954 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in Franklin Investment Grade Corporate ETF by 433.7% during the third quarter. Brooklyn Investment Group now owns 19,204 shares of the company’s stock valued at $420,000 after acquiring an additional 15,606 shares during the last quarter.

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.