Franklin Resources June 15th Short Interest Update

Franklin Resources (NYSE:BEN) has shown a drop of 5.9% or 1,025,154 shares in the short positions. The bets have increased to 16,355,548 shares on June 15,2016 from 17,380,702 shares on May 31,2016. With respect to the floated shares, the shorts are 4.6%. The days to cover are calculated to be 4, using the standard per day volume of 3,690,893 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Franklin Resources (NYSE:BEN): The stock opened at $32.24 on Friday but the bulls could not build on the opening and the stock topped out at $33.03 for the day. The stock traded down to $32.01 during the day, due to lack of any buying support eventually closed down at $32.05 with a loss of -7.32% for the day. The stock had closed at $34.58 on the previous day. The total traded volume was 5,237,571 shares.

The company shares have dropped -34.44% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $49.96 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $35.14 and the 200 Day Moving Average price is recorded at $36.09.

Franklin Resources (NYSE:BEN) has tumbled 3.9% during the past week and has dropped 14.21% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.3%. Franklin Resources (NYSE:BEN) has underperformed the index by 11.62% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Franklin Resources, Inc. (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally, which include the United States- and non- United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration, shareholder services, transfer agency, underwriting, distribution, custodial, trustee and other fiduciary services. Its sponsored investment products include a range of equity, hybrid, fixed-income and cash management funds and accounts, including alternative investment products.

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