Short Interest in Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Grows By 33.3%

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 104,841 shares, an increase of 33.3% from the February 12th total of 78,622 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 129,482 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 129,482 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Compound Planning Inc. grew its stake in shares of Franklin Investment Grade Corporate ETF by 9.1% during the fourth quarter. Compound Planning Inc. now owns 46,092 shares of the company’s stock worth $998,000 after purchasing an additional 3,832 shares during the period. Cetera Investment Advisers lifted its stake in Franklin Investment Grade Corporate ETF by 161.0% in the fourth quarter. Cetera Investment Advisers now owns 91,355 shares of the company’s stock valued at $1,978,000 after buying an additional 56,350 shares during the period. Royal Bank of Canada lifted its stake in Franklin Investment Grade Corporate ETF by 30.0% in the fourth 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. MML Investors Services LLC boosted its holdings in Franklin Investment Grade Corporate ETF by 6.3% during the fourth quarter. MML Investors Services LLC now owns 60,468 shares of the company’s stock worth $1,309,000 after buying an additional 3,560 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Franklin Investment Grade Corporate ETF during the fourth quarter worth about $58,000.

Franklin Investment Grade Corporate ETF Stock Performance

Shares of NYSEARCA FLCO opened at $21.38 on Tuesday. Franklin Investment Grade Corporate ETF has a fifty-two week low of $20.59 and a fifty-two week high of $22.10. The company’s 50 day simple moving average is $21.71 and its 200 day simple moving average is $21.77.

Franklin Investment Grade Corporate ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a dividend of $0.0726 per share. The ex-dividend date was Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 4.1%.

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.