Short Interest in Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Rises By 163.1%

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 15,463 shares, an increase of 163.1% from the April 15th total of 5,877 shares. Based on an average trading volume of 102,769 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Franklin Investment Grade Corporate ETF Price Performance

FLCO traded down $0.13 on Friday, hitting $21.23. 46,274 shares of the company were exchanged, compared to its average volume of 109,390. The firm has a fifty day simple moving average of $21.43 and a two-hundred day simple moving average of $21.64. Franklin Investment Grade Corporate ETF has a 12 month low of $20.90 and a 12 month high of $22.10.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLCO. Hantz Financial Services Inc. raised its stake in Franklin Investment Grade Corporate ETF by 3.5% during the fourth quarter. Hantz Financial Services Inc. now owns 5,369,885 shares of the company’s stock valued at $116,258,000 after buying an additional 181,499 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Franklin Investment Grade Corporate ETF by 7.6% in the second quarter. Bank of America Corp DE now owns 942,629 shares of the company’s stock worth $20,347,000 after purchasing an additional 66,524 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Franklin Investment Grade Corporate ETF by 10.3% in the first quarter. Sanctuary Advisors LLC now owns 419,177 shares of the company’s stock worth $8,979,000 after purchasing an additional 39,008 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Franklin Investment Grade Corporate ETF by 3.5% in the fourth quarter. Benjamin Edwards Inc. now owns 287,986 shares of the company’s stock worth $6,235,000 after acquiring an additional 9,794 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Franklin Investment Grade Corporate ETF by 9.7% in the first quarter. Bank of New York Mellon Corp now owns 250,706 shares of the company’s stock worth $5,370,000 after acquiring an additional 22,226 shares during the period.

About Franklin Investment Grade Corporate ETF

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.