Franklin U.S. Core Dividend Tilt Index ETF (NYSEARCA:UDIV) Sees Significant Increase in Short Interest

Franklin U.S. Core Dividend Tilt Index ETF (NYSEARCA:UDIV) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 32,837 shares, an increase of 91.2% from the April 15th total of 17,172 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 11,835 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UDIV. Franklin Resources Inc. lifted its holdings in shares of Franklin U.S. Core Dividend Tilt Index ETF by 2,715.8% during the fourth quarter. Franklin Resources Inc. now owns 450,972 shares of the company’s stock valued at $23,969,000 after purchasing an additional 434,956 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Franklin U.S. Core Dividend Tilt Index ETF by 47.6% during the fourth quarter. LPL Financial LLC now owns 251,636 shares of the company’s stock valued at $13,374,000 after purchasing an additional 81,133 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Franklin U.S. Core Dividend Tilt Index ETF by 13.7% during the third quarter. CreativeOne Wealth LLC now owns 460,701 shares of the company’s stock valued at $24,134,000 after purchasing an additional 55,625 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Franklin U.S. Core Dividend Tilt Index ETF during the second quarter valued at $2,529,000. Finally, BAM Wealth Management LLC bought a new position in shares of Franklin U.S. Core Dividend Tilt Index ETF during the third quarter valued at $760,000.

Franklin U.S. Core Dividend Tilt Index ETF Stock Performance

Shares of NYSEARCA:UDIV traded down $0.75 during midday trading on Friday, reaching $59.12. 5,209 shares of the company’s stock traded hands, compared to its average volume of 11,048. The company has a market cap of $124.15 million, a price-to-earnings ratio of 24.12 and a beta of 0.88. Franklin U.S. Core Dividend Tilt Index ETF has a one year low of $44.72 and a one year high of $68.06. The stock has a 50 day moving average of $54.68 and a 200 day moving average of $53.96.

Franklin U.S. Core Dividend Tilt Index ETF Company Profile

Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the index. The index is based on the Morningstar® US Target Market Exposure Index (Parent Index) and is constructed by applying an optimization process to the Parent Index that aims to deliver a higher dividend yield than the Parent Index, while limiting expected tracking error to the Parent Index.