Franklin Intelligent Machines ETF (BATS:IQM) Short Interest Up 7,947.2% in June

Franklin Intelligent Machines ETF (BATS:IQM) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 298,310 shares, a growth of 7,947.2% from the May 31st total of 3,707 shares. Currently, 66.3% of the shares of the stock are short sold. Based on an average trading volume of 23,027 shares, the short-interest ratio is currently 13.0 days.

Franklin Intelligent Machines ETF Stock Up 2.3%

IQM stock traded up $2.75 during mid-day trading on Thursday, hitting $120.16. The company had a trading volume of 3,162 shares, compared to its average volume of 7,705. The company has a market capitalization of $54.07 million, a price-to-earnings ratio of 47.30 and a beta of 1.46. Franklin Intelligent Machines ETF has a 12-month low of $72.85 and a 12-month high of $126.21. The company has a 50-day moving average price of $113.02 and a 200 day moving average price of $99.29.

Institutional Investors Weigh In On Franklin Intelligent Machines ETF

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in shares of Franklin Intelligent Machines ETF in the fourth quarter worth about $194,000. Harbour Investments Inc. grew its holdings in Franklin Intelligent Machines ETF by 8.6% during the 4th quarter. Harbour Investments Inc. now owns 3,498 shares of the company’s stock valued at $306,000 after buying an additional 277 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Franklin Intelligent Machines ETF during the 3rd quarter valued at approximately $361,000. Jane Street Group LLC bought a new stake in Franklin Intelligent Machines ETF in the 4th quarter worth approximately $376,000. Finally, Diversify Advisory Services LLC increased its stake in Franklin Intelligent Machines ETF by 13.6% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,595 shares of the company’s stock worth $455,000 after acquiring an additional 671 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.