Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Hits New 12-Month High – Time to Buy?

Shares of Franklin U.S. Equity Index ETF (NYSEARCA:USPX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $62.29 and last traded at $62.29, with a volume of 18611 shares changing hands. The stock had previously closed at $62.20.

Franklin U.S. Equity Index ETF Price Performance

The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 25.39 and a beta of 0.91. The firm’s fifty day moving average is $59.00 and its 200-day moving average is $59.49.

Institutional Investors Weigh In On Franklin U.S. Equity Index ETF

Several hedge funds and other institutional investors have recently bought and sold shares of USPX. Jane Street Group LLC increased its stake in Franklin U.S. Equity Index ETF by 160.2% in the first quarter. Jane Street Group LLC now owns 42,557 shares of the company’s stock valued at $2,085,000 after purchasing an additional 26,203 shares in the last quarter. Cetera Investment Advisers bought a new stake in Franklin U.S. Equity Index ETF in the second quarter valued at $254,000. Bank of America Corp DE increased its stake in Franklin U.S. Equity Index ETF by 19.9% in the second 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 in the last quarter. Osaic Holdings Inc. increased its stake in Franklin U.S. Equity Index ETF by 708.8% in the second quarter. Osaic Holdings Inc. now owns 33,874 shares of the company’s stock valued at $1,841,000 after purchasing an additional 29,686 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Franklin U.S. Equity Index ETF by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 13,264 shares of the company’s stock valued at $777,000 after purchasing an additional 312 shares in the last quarter.

Franklin U.S. Equity Index ETF Company Profile

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).