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

Franklin Intelligent Machines ETF (BATS:IQM) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 12,887 shares, a growth of 300.1% from the August 15th total of 3,221 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,237 shares, the days-to-cover ratio is presently 2.1 days.

Franklin Intelligent Machines ETF Price Performance

Shares of BATS IQM opened at $107.35 on Friday. Franklin Intelligent Machines ETF has a 1-year low of $79.59 and a 1-year high of $126.21. The business’s 50 day moving average is $106.75 and its two-hundred day moving average is $105.79. The stock has a market capitalization of $48.31 million, a P/E ratio of 47.30 and a beta of 1.46.

Institutional Investors Weigh In On Franklin Intelligent Machines ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in shares of Franklin Intelligent Machines ETF in the 4th quarter worth about $194,000. Harbour Investments Inc. boosted its position in shares of Franklin Intelligent Machines ETF by 8.6% during the fourth quarter. Harbour Investments Inc. now owns 3,498 shares of the company’s stock valued at $306,000 after buying an additional 277 shares during the period. Avior Wealth Management LLC bought a new position in shares of Franklin Intelligent Machines ETF during the second quarter valued at approximately $338,000. Envestnet Asset Management Inc. purchased a new stake in shares of Franklin Intelligent Machines ETF in the third quarter worth approximately $361,000. Finally, Jane Street Group LLC bought a new stake in shares of Franklin Intelligent Machines ETF during the 4th quarter worth approximately $376,000.

About Franklin Intelligent Machines ETF

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.