Franklin Intelligent Machines ETF (BATS:IQM) Sees Large Growth in Short Interest

Franklin Intelligent Machines ETF (BATS:IQM) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 298,310 shares, an increase of 7,947.2% from the May 31st total of 3,707 shares. Based on an average daily volume of 23,027 shares, the days-to-cover ratio is presently 13.0 days. Approximately 66.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Franklin Intelligent Machines ETF

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in Franklin Intelligent Machines ETF during the 4th quarter worth approximately $194,000. Harbour Investments Inc. boosted its holdings in Franklin Intelligent Machines ETF by 8.6% in the 4th quarter. Harbour Investments Inc. now owns 3,498 shares of the company’s stock valued at $306,000 after purchasing an additional 277 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Franklin Intelligent Machines ETF during the 3rd quarter valued at $361,000. Jane Street Group LLC bought a new position in Franklin Intelligent Machines ETF in the 4th quarter worth about $376,000. Finally, Diversify Advisory Services LLC increased its position in shares of Franklin Intelligent Machines ETF by 13.6% in the second quarter. Diversify Advisory Services LLC now owns 5,595 shares of the company’s stock worth $455,000 after purchasing an additional 671 shares during the last quarter.

Franklin Intelligent Machines ETF Stock Performance

Shares of IQM opened at $115.19 on Friday. Franklin Intelligent Machines ETF has a 52-week low of $72.85 and a 52-week high of $126.21. The stock’s 50-day simple moving average is $113.66 and its 200 day simple moving average is $99.61. The stock has a market capitalization of $51.84 million, a price-to-earnings ratio of 47.30 and a beta of 1.46.

Franklin Intelligent Machines ETF Company Profile

The Franklin Intelligent Machines ETF (IQM) is an exchange-traded fund that is based on the Russell 3000 index. The fund is an actively managed portfolio of global equity securities of companies that are relevant to intelligent machines. IQM was launched on Feb 25, 2020 and is managed by Franklin Templeton.