Franklin Income Focus ETF (NYSEARCA:INCM) Sees Large Drop in Short Interest
by Mitch Edgeman · The Markets DailyFranklin Income Focus ETF (NYSEARCA:INCM – Get Free Report) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 36,548 shares, a drop of 43.1% from the January 15th total of 64,210 shares. Based on an average daily volume of 368,130 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 368,130 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Investors Weigh In On Franklin Income Focus ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Financial Group LLC IL raised its holdings in shares of Franklin Income Focus ETF by 206.7% in the second quarter. Pinnacle Financial Group LLC IL now owns 61,112 shares of the company’s stock worth $1,653,000 after buying an additional 41,188 shares during the period. Sowell Financial Services LLC boosted its holdings in Franklin Income Focus ETF by 5.9% during the 3rd quarter. Sowell Financial Services LLC now owns 436,196 shares of the company’s stock valued at $12,100,000 after acquiring an additional 24,153 shares during the period. Lido Advisors LLC grew its position in Franklin Income Focus ETF by 343.3% in the 2nd quarter. Lido Advisors LLC now owns 138,618 shares of the company’s stock valued at $3,764,000 after acquiring an additional 107,347 shares during the last quarter. CWM LLC grew its position in Franklin Income Focus ETF by 367.4% in the 2nd quarter. CWM LLC now owns 62,340 shares of the company’s stock valued at $1,686,000 after acquiring an additional 49,003 shares during the last quarter. Finally, Next Level Private LLC increased its stake in Franklin Income Focus ETF by 9.2% in the third quarter. Next Level Private LLC now owns 280,106 shares of the company’s stock worth $7,798,000 after purchasing an additional 23,672 shares during the period.
Franklin Income Focus ETF Stock Performance
Shares of NYSEARCA:INCM traded up $0.11 on Friday, reaching $29.48. The company’s stock had a trading volume of 269,528 shares, compared to its average volume of 362,048. The company has a 50-day simple moving average of $28.55 and a 200 day simple moving average of $27.99. Franklin Income Focus ETF has a 52-week low of $24.62 and a 52-week high of $29.57. The company has a market cap of $1.24 billion, a P/E ratio of -50,221.47 and a beta of 0.49.
Franklin Income Focus ETF Cuts Dividend
The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Friday, January 30th were given a $0.12 dividend. The ex-dividend date was Friday, January 30th. This represents a c) annualized dividend and a yield of 4.9%. Franklin Income Focus ETF’s dividend payout ratio (DPR) is currently -240,204.42%.
About Franklin Income Focus ETF
The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.