Franklin U.S. Core Dividend Tilt Index ETF (NYSEARCA:UDIV) Sees Significant Increase in Short Interest

Franklin U.S. Core Dividend Tilt Index ETF (NYSEARCA:UDIV) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 23,940 shares, a growth of 117.2% from the July 15th total of 11,022 shares. Based on an average daily trading volume, of 7,894 shares, the short-interest ratio is presently 3.0 days. Currently, 1.0% of the company’s shares are short sold.

Franklin U.S. Core Dividend Tilt Index ETF Trading Down 0.2%

Shares of UDIV stock traded down $0.14 during trading hours on Friday, reaching $62.41. 11,086 shares of the stock were exchanged, compared to its average volume of 12,844. Franklin U.S. Core Dividend Tilt Index ETF has a 12-month low of $49.56 and a 12-month high of $68.06. The company’s 50-day moving average price is $60.28 and its 200-day moving average price is $57.16. The firm has a market capitalization of $146.66 million, a price-to-earnings ratio of 24.12 and a beta of 0.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Franklin U.S. Core Dividend Tilt Index ETF in the 1st quarter valued at about $238,000. Raymond James Financial Inc. acquired a new stake in Franklin U.S. Core Dividend Tilt Index ETF during the second quarter worth about $2,529,000. Bank of America Corp DE grew its position in Franklin U.S. Core Dividend Tilt Index ETF by 208.2% during the second quarter. Bank of America Corp DE now owns 9,573 shares of the company’s stock valued at $462,000 after buying an additional 6,467 shares during the period. Franklin Resources Inc. raised its holdings in Franklin U.S. Core Dividend Tilt Index ETF by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 16,016 shares of the company’s stock worth $839,000 after purchasing an additional 305 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Franklin U.S. Core Dividend Tilt Index ETF during the 3rd quarter worth approximately $692,000.

Franklin U.S. Core Dividend Tilt Index ETF Company Profile

Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the index. The index is based on the Morningstar® US Target Market Exposure Index (Parent Index) and is constructed by applying an optimization process to the Parent Index that aims to deliver a higher dividend yield than the Parent Index, while limiting expected tracking error to the Parent Index.