Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Hits New 12-Month Low – Here’s Why

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s stock price hit a new 52-week low during mid-day 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 business has a 50-day simple moving average of $20.91 and a two-hundred day simple moving average of $21.22.

Institutional Trading of Franklin Investment Grade Corporate ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew 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 buying an additional 32,807 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Franklin Investment Grade Corporate ETF by 10.3% during the 1st quarter. Sanctuary Advisors LLC now owns 419,177 shares of the company’s stock worth $8,979,000 after acquiring an additional 39,008 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Franklin Investment Grade Corporate ETF by 9.7% during the 1st quarter. Bank of New York Mellon Corp now owns 250,706 shares of the company’s stock worth $5,370,000 after acquiring an additional 22,226 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Franklin Investment Grade Corporate ETF by 12.9% during the second quarter. Envestnet Asset Management Inc. now owns 238,524 shares of the company’s stock valued at $5,114,000 after acquiring an additional 27,252 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in Franklin Investment Grade Corporate ETF by 49.5% during the second quarter. Citadel Advisors LLC now owns 176,968 shares of the company’s stock valued at $3,794,000 after acquiring an additional 58,586 shares during the period.

Franklin Investment Grade Corporate ETF Company Profile

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.