Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 52-Week Low – Time to Sell?

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $20.60 and last traded at $20.59, with a volume of 33196 shares traded. The stock had previously closed at $20.76.

Franklin Investment Grade Corporate ETF Price Performance

The firm’s 50-day moving average is $20.94 and its 200 day moving average is $21.23.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Compound Planning Inc. grew its holdings in Franklin Investment Grade Corporate ETF by 22.2% during the first quarter. Compound Planning Inc. now owns 56,306 shares of the company’s stock worth $1,206,000 after purchasing an additional 10,214 shares during the period. Sequent Planning LLC raised its stake in Franklin Investment Grade Corporate ETF by 11.2% in the first quarter. Sequent Planning LLC now owns 129,939 shares of the company’s stock valued at $2,783,000 after buying an additional 13,118 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Franklin Investment Grade Corporate ETF by 9.7% in the first quarter. Bank of New York Mellon Corp now owns 250,706 shares of the company’s stock valued at $5,370,000 after buying an additional 22,226 shares during the last quarter. Cetera Investment Advisers raised its stake in Franklin Investment Grade Corporate ETF by 25.3% in the 1st quarter. Cetera Investment Advisers now owns 114,513 shares of the company’s stock valued at $2,453,000 after acquiring an additional 23,158 shares during the period. Finally, Bank of America Corp DE raised its stake in Franklin Investment Grade Corporate ETF by 3.4% in the 1st quarter. Bank of America Corp DE now owns 989,730 shares of the company’s stock valued at $21,200,000 after acquiring an additional 32,807 shares during the period.

About Franklin Investment Grade Corporate ETF

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.