Short Interest in Franklin FTSE Mexico ETF (NYSEARCA:FLMX) Declines By 70.0%

Franklin FTSE Mexico ETF (NYSEARCA:FLMX) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 20,400 shares, a decline of 70.0% from the May 15th total of 68,100 shares. Based on an average daily volume of 42,200 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.2% of the company’s stock are short sold.

Franklin FTSE Mexico ETF Stock Performance

NYSEARCA:FLMX traded down $0.22 on Friday, hitting $30.11. The stock had a trading volume of 65,765 shares, compared to its average volume of 50,453. Franklin FTSE Mexico ETF has a 1 year low of $22.86 and a 1 year high of $30.85. The firm’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $26.00. The stock has a market cap of $49.68 million, a P/E ratio of 11.18 and a beta of 0.87.

Institutional Trading of Franklin FTSE Mexico ETF

A number of institutional investors and hedge funds have recently modified their holdings of FLMX. NBC Securities Inc. boosted its position in Franklin FTSE Mexico ETF by 170,300.0% in the first quarter. NBC Securities Inc. now owns 1,704 shares of the company’s stock worth $42,000 after purchasing an additional 1,703 shares during the last quarter. Redmond Asset Management LLC raised its stake in shares of Franklin FTSE Mexico ETF by 37.8% during the 4th quarter. Redmond Asset Management LLC now owns 10,913 shares of the company’s stock worth $251,000 after purchasing an additional 2,994 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Franklin FTSE Mexico ETF in the 4th quarter worth about $984,000. Private Trust Co. NA purchased a new stake in Franklin FTSE Mexico ETF during the fourth quarter worth about $1,433,000. Finally, PCG Wealth Advisors LLC raised its position in Franklin FTSE Mexico ETF by 9.8% in the first quarter. PCG Wealth Advisors LLC now owns 85,406 shares of the company’s stock worth $2,138,000 after acquiring an additional 7,613 shares during the period.

Franklin FTSE Mexico ETF Company Profile

The Franklin FTSE Mexico ETF (FLMX) is an exchange-traded fund that is based on the FTSE Mexico RIC Capped index. The fund tracks a market-cap-selected and -weighted index of Mexican equities. FLMX was launched on Nov 3, 2017 and is managed by Franklin Templeton.