Short Interest in Franklin FTSE India ETF (NYSEARCA:FLIN) Expands By 85.3%

Franklin FTSE India ETF (NYSEARCA:FLIN) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 394,257 shares, an increase of 85.3% from the July 15th total of 212,779 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 636,447 shares, the days-to-cover ratio is presently 0.6 days.

Franklin FTSE India ETF Trading Down 0.4%

NYSEARCA FLIN traded down $0.16 during trading on Friday, hitting $35.77. The company had a trading volume of 135,891 shares, compared to its average volume of 858,801. The company’s fifty day moving average is $35.32 and its 200-day moving average is $35.43. Franklin FTSE India ETF has a one year low of $32.20 and a one year high of $39.85. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 22.46 and a beta of 0.47.

Hedge Funds Weigh In On Franklin FTSE India ETF

Several hedge funds and other institutional investors have recently modified their holdings of FLIN. Morgan Stanley lifted its holdings in Franklin FTSE India ETF by 2.4% in the fourth quarter. Morgan Stanley now owns 1,491,503 shares of the company’s stock worth $57,557,000 after buying an additional 35,311 shares during the period. OLD National Bancorp IN raised its position in shares of Franklin FTSE India ETF by 13.4% in the 1st quarter. OLD National Bancorp IN now owns 847,863 shares of the company’s stock worth $28,166,000 after acquiring an additional 100,216 shares in the last quarter. 3EDGE Asset Management LP bought a new position in shares of Franklin FTSE India ETF in the 4th quarter worth approximately $29,642,000. Bank of America Corp DE lifted its stake in shares of Franklin FTSE India ETF by 121.4% in the 1st quarter. Bank of America Corp DE now owns 430,376 shares of the company’s stock valued at $14,297,000 after purchasing an additional 235,968 shares during the period. Finally, Axis Capital Holdings Ltd. purchased a new position in shares of Franklin FTSE India ETF in the 4th quarter valued at approximately $14,617,000.

About Franklin FTSE India ETF

The Franklin FTSE India ETF (FLIN) is an exchange-traded fund that is based on the FTSE India RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Indian securities. FLIN was launched on Feb 6, 2018 and is managed by Franklin Templeton.