Short Interest in Franklin Income Equity Focus ETF (NYSEARCA:INCE) Decreases By 39.9%

Franklin Income Equity Focus ETF (NYSEARCA:INCE) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 10,403 shares, a drop of 39.9% from the May 31st total of 17,310 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 19,430 shares, the days-to-cover ratio is presently 0.5 days.

Franklin Income Equity Focus ETF Stock Performance

INCE traded up $0.36 during trading on Wednesday, reaching $66.98. The company had a trading volume of 8,600 shares, compared to its average volume of 15,175. The firm’s 50-day simple moving average is $66.98 and its 200 day simple moving average is $65.26. The company has a market cap of $117.22 million, a price-to-earnings ratio of 17.48 and a beta of 0.74. Franklin Income Equity Focus ETF has a 12-month low of $56.65 and a 12-month high of $68.42.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INCE. Royal Bank of Canada raised its holdings in shares of Franklin Income Equity Focus ETF by 6.6% during the first quarter. Royal Bank of Canada now owns 35,805 shares of the company’s stock valued at $2,012,000 after acquiring an additional 2,230 shares during the period. Goldman Sachs Group Inc. boosted its stake in Franklin Income Equity Focus ETF by 132.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 38,430 shares of the company’s stock worth $2,160,000 after purchasing an additional 21,931 shares during the period. Jane Street Group LLC boosted its stake in Franklin Income Equity Focus ETF by 78.3% in the 1st quarter. Jane Street Group LLC now owns 24,494 shares of the company’s stock worth $1,377,000 after purchasing an additional 10,756 shares during the period. JPMorgan Chase & Co. grew its position in Franklin Income Equity Focus ETF by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 867 shares of the company’s stock worth $50,000 after purchasing an additional 233 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Franklin Income Equity Focus ETF by 23.2% during the 2nd quarter. Raymond James Financial Inc. now owns 195,256 shares of the company’s stock worth $11,221,000 after purchasing an additional 36,832 shares in the last quarter.

About Franklin Income Equity Focus ETF

The Franklin Income Equity Focus ETF (INCE) is an exchange-traded fund that mostly invests in total market equity. The fund seeks income and capital appreciation with lower volatility than the S&P 500 Index. The fund invests in stocks globally using proprietary fundamental research. INCE was launched on Sep 20, 2016 and is issued by Franklin Templeton.