Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Reaches New 1-Year High – Time to Buy?

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $70.57 and last traded at $70.57, with a volume of 124 shares trading hands. The stock had previously closed at $65.92.

Franklin U.S. Equity Index ETF Stock Up 7.1%

The stock’s 50 day moving average is $63.26 and its 200-day moving average is $60.88. The company has a market cap of $2.05 billion, a PE ratio of 25.39 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in USPX. Jane Street Group LLC increased its stake in Franklin U.S. Equity Index ETF by 160.2% during the first quarter. Jane Street Group LLC now owns 42,557 shares of the company’s stock worth $2,085,000 after acquiring an additional 26,203 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Franklin U.S. Equity Index ETF in the 2nd quarter worth approximately $254,000. Bank of America Corp DE increased its position in shares of Franklin U.S. Equity Index ETF by 19.9% during the 2nd quarter. Bank of America Corp DE now owns 2,736 shares of the company’s stock valued at $149,000 after purchasing an additional 455 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Franklin U.S. Equity Index ETF by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,264 shares of the company’s stock valued at $777,000 after buying an additional 312 shares during the period. Finally, Atria Investments Inc raised its holdings in Franklin U.S. Equity Index ETF by 29.1% during the 3rd quarter. Atria Investments Inc now owns 42,446 shares of the company’s stock valued at $2,486,000 after buying an additional 9,562 shares during the period.

About Franklin U.S. Equity Index ETF

The fund invests at least 80% of its assets in the component securities of the underlying index. The index is a free float-adjusted market capitalization weighted index that is maintained and calculated by Morningstar, Inc (Morningstar or index provider).