Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Short Interest Up 33.3% in February

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 104,841 shares, a growth of 33.3% from the February 12th total of 78,622 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 129,482 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 129,482 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Franklin Investment Grade Corporate ETF by 21.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,660 shares of the company’s stock valued at $58,000 after purchasing an additional 463 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Franklin Investment Grade Corporate ETF in the fourth quarter valued at approximately $58,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Franklin Investment Grade Corporate ETF during the 2nd quarter valued at approximately $109,000. Royal Bank of Canada boosted its holdings in Franklin Investment Grade Corporate ETF by 30.0% in the 4th quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock worth $177,000 after buying an additional 1,891 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Franklin Investment Grade Corporate ETF by 6.2% in the 4th quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock worth $356,000 after buying an additional 954 shares during the period.

Franklin Investment Grade Corporate ETF Price Performance

Franklin Investment Grade Corporate ETF stock traded down $0.05 during trading on Friday, hitting $21.30. The stock had a trading volume of 842,857 shares, compared to its average volume of 147,250. The stock’s 50 day moving average is $21.71 and its two-hundred day moving average is $21.77. Franklin Investment Grade Corporate ETF has a 1 year low of $20.59 and a 1 year high of $22.10.

Franklin Investment Grade Corporate ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a dividend of $0.0726 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, March 2nd.

About Franklin Investment Grade Corporate ETF

The Franklin Investment Grade Corporate ETF (FLCO) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that uses a combined top-down and bottom-up approach to select investment-grade USD-denominated bonds without a duration target. FLCO was launched on Oct 3, 2016 and is managed by Franklin Templeton.