Franklin Intelligent Machines ETF (BATS:IQM) Sees Large Decrease in Short Interest

Franklin Intelligent Machines ETF (BATS:IQM) saw a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 2,709 shares, a decline of 80.2% from the April 15th total of 13,699 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 7,073 shares, the days-to-cover ratio is currently 0.4 days.

Franklin Intelligent Machines ETF Stock Performance

Franklin Intelligent Machines ETF stock traded up $0.53 during mid-day trading on Wednesday, reaching $113.24. The company’s stock had a trading volume of 1,409 shares, compared to its average volume of 6,715. Franklin Intelligent Machines ETF has a 12-month low of $67.19 and a 12-month high of $115.19. The company has a market capitalization of $50.96 million, a P/E ratio of 47.30 and a beta of 1.46. The firm’s fifty day moving average price is $97.64 and its two-hundred day moving average price is $93.28.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Diversify Wealth Management LLC purchased a new position in Franklin Intelligent Machines ETF in the first quarter worth $959,000. Cetera Investment Advisers grew its position in Franklin Intelligent Machines ETF by 66.2% in the fourth quarter. Cetera Investment Advisers now owns 41,996 shares of the company’s stock worth $3,671,000 after acquiring an additional 16,729 shares in the last quarter. Osaic Holdings Inc. grew its position in Franklin Intelligent Machines ETF by 13.2% in the fourth quarter. Osaic Holdings Inc. now owns 23,048 shares of the company’s stock worth $2,015,000 after acquiring an additional 2,685 shares in the last quarter. Jane Street Group LLC purchased a new position in Franklin Intelligent Machines ETF in the fourth quarter worth $376,000. Finally, Commonwealth Equity Services LLC lifted its stake in Franklin Intelligent Machines ETF by 47.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,697 shares of the company’s stock worth $673,000 after purchasing an additional 2,477 shares during the last quarter.

About Franklin Intelligent Machines ETF

The Franklin Intelligent Machines ETF (IQM) is an exchange-traded fund that is based on the Russell 3000 index. The fund is an actively managed portfolio of global equity securities of companies that are relevant to intelligent machines. IQM was launched on Feb 25, 2020 and is managed by Franklin Templeton.