Franklin High Yield Corporate ETF (BATS:FLHY) Sees Large Increase in Short Interest

Franklin High Yield Corporate ETF (BATS:FLHY) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 264,354 shares, a growth of 2,628.7% from the April 15th total of 9,688 shares. Based on an average daily volume of 507,010 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.0% of the shares of the stock are sold short.

Franklin High Yield Corporate ETF Stock Performance

BATS:FLHY traded down $0.01 during midday trading on Wednesday, hitting $24.24. 72,456 shares of the company traded hands, compared to its average volume of 342,542. The firm’s fifty day moving average is $24.25 and its 200-day moving average is $24.38. Franklin High Yield Corporate ETF has a 12-month low of $23.77 and a 12-month high of $24.63.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in Franklin High Yield Corporate ETF by 59.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,737 shares of the company’s stock valued at $41,000 after acquiring an additional 650 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Franklin High Yield Corporate ETF in the fourth quarter valued at approximately $77,000. US Bancorp DE boosted its stake in Franklin High Yield Corporate ETF by 52.7% during the third quarter. US Bancorp DE now owns 4,593 shares of the company’s stock worth $113,000 after buying an additional 1,585 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Franklin High Yield Corporate ETF by 24.4% during the 4th quarter. Farther Finance Advisors LLC now owns 7,437 shares of the company’s stock worth $182,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Franklin High Yield Corporate ETF during the 3rd quarter worth about $196,000.

Franklin High Yield Corporate ETF Company Profile

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.