Franklin Responsibly Sourced Gold ETF (NYSEARCA:FGDL) Stock Short Interest Rises 103.2%

Franklin Responsibly Sourced Gold ETF (NYSEARCA:FGDL) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 5,438 shares, a growth of 103.2% from the September 30th total of 2,676 shares. Based on an average daily trading volume, of 13,600 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eastern Bank purchased a new position in shares of Franklin Responsibly Sourced Gold ETF in the 2nd quarter worth $5,894,000. Sonoma Allocations LLC grew its position in Franklin Responsibly Sourced Gold ETF by 28.7% during the first quarter. Sonoma Allocations LLC now owns 6,275 shares of the company’s stock valued at $393,000 after buying an additional 1,401 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Franklin Responsibly Sourced Gold ETF by 2,359.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 541 shares of the company’s stock valued at $33,000 after acquiring an additional 519 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Franklin Responsibly Sourced Gold ETF by 171.5% in the 1st quarter. Kestra Advisory Services LLC now owns 4,241 shares of the company’s stock worth $264,000 after purchasing an additional 2,679 shares in the last quarter. Finally, PFG Investments LLC increased its stake in shares of Franklin Responsibly Sourced Gold ETF by 22.7% in the 1st quarter. PFG Investments LLC now owns 12,132 shares of the company’s stock worth $754,000 after purchasing an additional 2,245 shares in the last quarter.

Franklin Responsibly Sourced Gold ETF Price Performance

FGDL traded down $1.82 during midday trading on Friday, hitting $51.71. 17,068 shares of the company traded hands, compared to its average volume of 41,519. The company’s 50-day moving average is $56.70 and its 200 day moving average is $59.90. Franklin Responsibly Sourced Gold ETF has a 52 week low of $51.54 and a 52 week high of $74.24.

About Franklin Responsibly Sourced Gold ETF

The Franklin Responsibly Sourced Gold ETF (FGDL) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund provides the price movement of gold spot price, less expenses and liabilities, using gold bars that meet London Bullion Market Associations responsible gold guidance. FGDL was launched on Jun 30, 2022 and is managed by Franklin Templeton.