Franklin Income Focus ETF (NYSEARCA:INCM) Sees Significant Growth in Short Interest

Franklin Income Focus ETF (NYSEARCA:INCM) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 61,662 shares, an increase of 68.7% from the January 29th total of 36,548 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 387,535 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 387,535 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Franklin Income Focus ETF Price Performance

Shares of Franklin Income Focus ETF stock traded down $0.04 during trading on Friday, reaching $29.46. 358,642 shares of the company traded hands, compared to its average volume of 349,796. The firm has a market capitalization of $1.23 billion, a PE ratio of -50,187.39 and a beta of 0.49. Franklin Income Focus ETF has a 1-year low of $24.62 and a 1-year high of $29.57. The company has a 50 day moving average price of $28.83 and a 200-day moving average price of $28.14.

Franklin Income Focus ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.13 per share. This is an increase from Franklin Income Focus ETF’s previous monthly dividend of $0.12. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, February 27th. Franklin Income Focus ETF’s dividend payout ratio (DPR) is currently -240,204.42%.

Institutional Trading of Franklin Income Focus ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCM. LPL Financial LLC raised its stake in Franklin Income Focus ETF by 40.2% during the 4th quarter. LPL Financial LLC now owns 3,821,161 shares of the company’s stock worth $107,145,000 after buying an additional 1,096,264 shares during the period. Summit Investment Advisory Services LLC bought a new stake in shares of Franklin Income Focus ETF during the third quarter valued at approximately $24,675,000. Wells Fargo & Company MN raised its position in shares of Franklin Income Focus ETF by 23.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,966,825 shares of the company’s stock worth $55,150,000 after purchasing an additional 377,352 shares during the period. Royal Bank of Canada lifted its holdings in shares of Franklin Income Focus ETF by 35.2% in the 4th quarter. Royal Bank of Canada now owns 1,334,830 shares of the company’s stock worth $37,428,000 after purchasing an additional 347,817 shares in the last quarter. Finally, Base Wealth Management LLC bought a new position in shares of Franklin Income Focus ETF in the 2nd quarter worth $7,346,000.

Franklin Income Focus ETF Company Profile

The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.