Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Sets New 52-Week High – Here’s Why

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) hit a new 52-week high on Wednesday . The company traded as high as $63.34 and last traded at $63.25, with a volume of 35501 shares changing hands. The stock had previously closed at $62.75.

Franklin U.S. Equity Index ETF Stock Performance

The stock has a 50-day moving average price of $59.55 and a two-hundred day moving average price of $59.77. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 25.39 and a beta of 0.92.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in Franklin U.S. Equity Index ETF during the fourth quarter worth $35,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Franklin U.S. Equity Index ETF in the fourth quarter valued at about $46,000. Huntington National Bank acquired a new stake in shares of Franklin U.S. Equity Index ETF in the third quarter valued at about $53,000. Larson Financial Group LLC purchased a new stake in shares of Franklin U.S. Equity Index ETF during the fourth quarter worth about $106,000. Finally, Bank of America Corp DE increased its stake in shares of Franklin U.S. Equity Index ETF by 19.9% during the second quarter. Bank of America Corp DE now owns 2,736 shares of the company’s stock worth $149,000 after purchasing an additional 455 shares in the last quarter.

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).