Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) Sees Significant Drop in Short Interest

Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 19,532 shares, a decline of 67.2% from the June 15th total of 59,610 shares. Based on an average daily trading volume, of 63,835 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Franklin FTSE United Kingdom ETF Price Performance

Shares of FLGB traded up $0.29 during mid-day trading on Wednesday, reaching $35.90. 19,047 shares of the company’s stock traded hands, compared to its average volume of 175,613. The stock’s 50-day moving average is $35.67 and its two-hundred day moving average is $35.44. Franklin FTSE United Kingdom ETF has a 12 month low of $30.44 and a 12 month high of $37.37. The stock has a market cap of $877.75 million, a P/E ratio of 15.48 and a beta of 0.64.

Institutional Trading of Franklin FTSE United Kingdom ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new position in shares of Franklin FTSE United Kingdom ETF in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Franklin FTSE United Kingdom ETF in the 4th quarter valued at about $43,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Franklin FTSE United Kingdom ETF by 79.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,553 shares of the company’s stock worth $48,000 after acquiring an additional 686 shares during the period. Triumph Capital Management purchased a new position in shares of Franklin FTSE United Kingdom ETF during the third quarter worth approximately $110,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Franklin FTSE United Kingdom ETF during the second quarter valued at approximately $144,000.

About Franklin FTSE United Kingdom ETF

The Franklin FTSE United Kingdom ETF (FLGB) is an exchange-traded fund that is based on the FTSE UK RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap companies from the United Kingdom. FLGB was launched on Nov 2, 2017 and is managed by Franklin Templeton.