Franklin FTSE India ETF (NYSEARCA:FLIN) Stock Short Interest Drops 49.0%

Franklin FTSE India ETF (NYSEARCA:FLIN) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 158,504 shares, a drop of 49.0% from the September 30th total of 310,666 shares. Based on an average daily trading volume, of 314,820 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Franklin FTSE India ETF

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Franklin FTSE India ETF by 121.4% during the first quarter. Bank of America Corp DE now owns 430,376 shares of the company’s stock worth $14,297,000 after buying an additional 235,968 shares during the period. Juncture Wealth Strategies LLC acquired a new stake in Franklin FTSE India ETF in the 3rd quarter valued at approximately $3,863,000. Tidal Investments LLC acquired a new stake in Franklin FTSE India ETF in the 2nd quarter valued at approximately $3,095,000. Hsbc Holdings PLC acquired a new position in Franklin FTSE India ETF during the 1st quarter worth $2,112,000. Finally, Sentinel Trust Co. LBA acquired a new position in Franklin FTSE India ETF during the 1st quarter worth $1,993,000.

Franklin FTSE India ETF Stock Up 0.5%

FLIN stock traded up $0.16 during mid-day trading on Friday, reaching $34.05. The company had a trading volume of 326,812 shares, compared to its average volume of 694,918. Franklin FTSE India ETF has a one year low of $32.20 and a one year high of $39.43. The stock has a market capitalization of $2.54 billion, a P/E ratio of 22.46 and a beta of 0.48. The stock’s 50-day simple moving average is $34.36 and its two-hundred day simple moving average is $35.25.

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.