Franklin Income Focus ETF (NYSEARCA:INCM) Sets New 52-Week High – Here’s What Happened

Franklin Income Focus ETF (NYSEARCA:INCM) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.78 and last traded at $28.75, with a volume of 26484 shares traded. The stock had previously closed at $28.65.

Franklin Income Focus ETF Trading Up 0.1%

The company has a 50 day moving average of $28.17 and a 200 day moving average of $27.79. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -49,080.07 and a beta of 0.49.

Hedge Funds Weigh In On Franklin Income Focus ETF

A number of institutional investors and hedge funds have recently bought and sold shares of INCM. Pinnacle Financial Group LLC IL raised its holdings in Franklin Income Focus ETF by 206.7% in the second quarter. Pinnacle Financial Group LLC IL now owns 61,112 shares of the company’s stock worth $1,653,000 after purchasing an additional 41,188 shares during the period. Sowell Financial Services LLC grew its holdings in shares of Franklin Income Focus ETF by 5.9% in the 3rd quarter. Sowell Financial Services LLC now owns 436,196 shares of the company’s stock valued at $12,100,000 after buying an additional 24,153 shares during the period. CWM LLC increased its position in shares of Franklin Income Focus ETF by 367.4% in the 2nd quarter. CWM LLC now owns 62,340 shares of the company’s stock valued at $1,686,000 after buying an additional 49,003 shares in the last quarter. Lido Advisors LLC raised its stake in Franklin Income Focus ETF by 343.3% during the 2nd quarter. Lido Advisors LLC now owns 138,618 shares of the company’s stock worth $3,764,000 after buying an additional 107,347 shares during the period. Finally, Next Level Private LLC raised its stake in Franklin Income Focus ETF by 9.2% during the 3rd quarter. Next Level Private LLC now owns 280,106 shares of the company’s stock worth $7,798,000 after buying an additional 23,672 shares during the period.

Franklin Income Focus ETF Company Profile

The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.