Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Short Interest Up 163.1% in April

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 15,463 shares, a growth of 163.1% from the April 15th total of 5,877 shares. Based on an average daily volume of 102,769 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Franklin Investment Grade Corporate ETF Stock Performance

NYSEARCA:FLCO opened at $21.23 on Friday. Franklin Investment Grade Corporate ETF has a 52 week low of $20.90 and a 52 week high of $22.10. The stock’s fifty day moving average is $21.43 and its two-hundred day moving average is $21.64.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in 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 purchasing an additional 463 shares during the period. Kestra Advisory Services LLC purchased a new stake in Franklin Investment Grade Corporate ETF in the fourth quarter valued at $58,000. Royal Bank of Canada raised its holdings in shares of Franklin Investment Grade Corporate ETF by 30.0% in the 4th quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock valued at $177,000 after buying an additional 1,891 shares during the period. HighTower Advisors LLC raised its holdings in shares of Franklin Investment Grade Corporate ETF by 6.2% in the 4th quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock valued at $356,000 after buying an additional 954 shares during the period. Finally, Brooklyn Investment Group raised its holdings in shares of Franklin Investment Grade Corporate ETF by 433.7% in the 3rd quarter. Brooklyn Investment Group now owns 19,204 shares of the company’s stock valued at $420,000 after buying an additional 15,606 shares during the period.

Franklin Investment Grade Corporate ETF Company Profile

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.