Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sets New 52-Week High – Should You Buy?

Shares of Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.04 and last traded at $22.04, with a volume of 1068269 shares changing hands. The stock had previously closed at $21.98.

Franklin Investment Grade Corporate ETF Trading Up 0.3%

The company’s 50-day simple moving average is $21.79 and its 200 day simple moving average is $21.44.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in shares of Franklin Investment Grade Corporate ETF by 2.6% in the second quarter. Osaic Holdings Inc. now owns 21,471 shares of the company’s stock valued at $463,000 after purchasing an additional 553 shares during the period. PNC Financial Services Group Inc. grew its stake in Franklin Investment Grade Corporate ETF by 37.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,444 shares of the company’s stock valued at $52,000 after buying an additional 672 shares during the last quarter. Cetera Investment Advisers raised its holdings in Franklin Investment Grade Corporate ETF by 9.4% in the 2nd quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock worth $553,000 after acquiring an additional 2,203 shares during the period. Bank of New York Mellon Corp lifted its position in Franklin Investment Grade Corporate ETF by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 139,738 shares of the company’s stock worth $2,993,000 after acquiring an additional 3,667 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Franklin Investment Grade Corporate ETF by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 93,218 shares of the company’s stock valued at $2,011,000 after acquiring an additional 3,745 shares during the period.

Franklin Investment Grade Corporate ETF Company Profile

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.