Franklin FTSE India ETF (NYSEARCA:FLIN) Stock Short Interest Drops 49.0%

Franklin FTSE India ETF (NYSEARCA:FLIN) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 158,504 shares, a decrease of 49.0% from the September 30th total of 310,666 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 314,820 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On Franklin FTSE India ETF

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Franklin FTSE India ETF by 19.4% in the 1st quarter. Royal Bank of Canada now owns 136,116 shares of the company’s stock worth $4,522,000 after purchasing an additional 22,146 shares during the period. Tidal Investments LLC purchased a new position in shares of Franklin FTSE India ETF in the second quarter worth approximately $3,095,000. Bank of America Corp DE grew its position in Franklin FTSE India ETF by 121.4% during the first quarter. Bank of America Corp DE now owns 430,376 shares of the company’s stock valued at $14,297,000 after buying an additional 235,968 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Franklin FTSE India ETF by 30.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 62,275 shares of the company’s stock valued at $2,097,000 after buying an additional 14,499 shares during the period. Finally, Juncture Wealth Strategies LLC purchased a new stake in Franklin FTSE India ETF during the third quarter valued at approximately $3,863,000.

Franklin FTSE India ETF Trading Up 0.5%

FLIN stock traded up $0.16 on Friday, hitting $34.05. The company had a trading volume of 326,812 shares, compared to its average volume of 694,918. The stock’s 50-day simple moving average is $34.36 and its 200 day simple moving average is $35.25. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 22.46 and a beta of 0.48. Franklin FTSE India ETF has a 12-month low of $32.20 and a 12-month high of $39.43.

About Franklin FTSE India ETF

The Franklin FTSE India ETF (FLIN) is an exchange-traded fund that is based on the FTSE India RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Indian securities. FLIN was launched on Feb 6, 2018 and is managed by Franklin Templeton.