Franklin FTSE India ETF (NYSEARCA:FLIN) Sees Large Decrease in Short Interest

Franklin FTSE India ETF (NYSEARCA:FLIN) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 196,063 shares, a decline of 71.6% from the May 14th total of 689,814 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 279,414 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Franklin FTSE India ETF

A number of hedge funds have recently modified their holdings of the stock. 3EDGE Asset Management LP bought a new stake in Franklin FTSE India ETF during the 4th quarter valued at $29,642,000. Axis Capital Holdings Ltd. purchased a new position in shares of Franklin FTSE India ETF during the 4th quarter valued at $14,617,000. Susquehanna International Group LLP purchased a new position in shares of Franklin FTSE India ETF during the 3rd quarter valued at $10,489,000. Goldman Sachs Group Inc. purchased a new position in shares of Franklin FTSE India ETF during the 1st quarter valued at $9,348,000. Finally, Bank of America Corp DE grew its position in shares of Franklin FTSE India ETF by 121.4% during the 1st quarter. Bank of America Corp DE now owns 430,376 shares of the company’s stock valued at $14,297,000 after purchasing an additional 235,968 shares in the last quarter.

Franklin FTSE India ETF Trading Up 1.1%

Shares of NYSEARCA:FLIN traded up $0.38 during mid-day trading on Friday, reaching $34.62. The company had a trading volume of 530,127 shares, compared to its average volume of 838,020. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 22.46 and a beta of 0.47. The company’s 50-day moving average price is $34.80 and its 200-day moving average price is $36.32. Franklin FTSE India ETF has a one year low of $32.20 and a one year high of $40.08.

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.