Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) Sees Unusually-High Trading Volume – Here’s Why

Franklin FTSE United Kingdom ETF (NYSEARCA:FLGB) shares saw unusually-strong trading volume on Wednesday . Approximately 172,472 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 237,427 shares.The stock last traded at $26.11 and had previously closed at $25.74.

Franklin FTSE United Kingdom ETF Stock Up 1.1 %

The company has a fifty day moving average price of $26.82 and a two-hundred day moving average price of $27.34. The firm has a market capitalization of $712.56 million, a price-to-earnings ratio of 13.37 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FLGB. Bank of New York Mellon Corp acquired a new stake in shares of Franklin FTSE United Kingdom ETF during the second quarter worth about $309,000. Choreo LLC acquired a new stake in Franklin FTSE United Kingdom ETF during the 2nd quarter worth approximately $243,000. Envestnet Asset Management Inc. increased its holdings in shares of Franklin FTSE United Kingdom ETF by 1,187.2% in the second quarter. Envestnet Asset Management Inc. now owns 320,215 shares of the company’s stock valued at $8,418,000 after purchasing an additional 295,339 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Franklin FTSE United Kingdom ETF during the second quarter worth approximately $726,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Franklin FTSE United Kingdom ETF during the second quarter worth $231,000.

About Franklin FTSE United Kingdom ETF

The Franklin FTSE United Kingdom ETF (FLGB) is an exchange-traded fund that is based on the FTSE UK RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap companies from the United Kingdom. FLGB was launched on Nov 2, 2017 and is managed by Franklin Templeton.