Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sets New 52-Week Low – Here’s Why

Shares of Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) hit a new 52-week low during trading on Tuesday . The stock traded as low as $20.85 and last traded at $20.87, with a volume of 288 shares trading hands. The stock had previously closed at $21.02.

Franklin Investment Grade Corporate ETF Price Performance

The stock’s 50 day moving average price is $21.10 and its two-hundred day moving average price is $21.34.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its position in shares of Franklin Investment Grade Corporate ETF by 2.6% during the 2nd quarter. Osaic Holdings Inc. now owns 21,471 shares of the company’s stock worth $463,000 after purchasing an additional 553 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Franklin Investment Grade Corporate ETF by 35.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the company’s stock valued at $78,000 after buying an additional 940 shares during the last quarter. HighTower Advisors LLC grew its holdings in Franklin Investment Grade Corporate ETF by 6.2% in the 4th quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock valued at $356,000 after buying an additional 954 shares during the last quarter. Royal Bank of Canada increased its position in Franklin Investment Grade Corporate ETF by 30.0% in the 4th quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock worth $177,000 after buying an additional 1,891 shares during the period. Finally, Cetera Investment Advisers increased its position in Franklin Investment Grade Corporate ETF by 9.4% in the 2nd quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock worth $553,000 after buying an additional 2,203 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.