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

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.09 and last traded at $21.09, with a volume of 16369 shares. The stock had previously closed at $21.18.

Franklin Investment Grade Corporate ETF Trading Down 0.4%

The business’s 50-day moving average price is $21.36 and its 200 day moving average price is $21.52.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in shares of Franklin Investment Grade Corporate ETF during the 4th quarter valued at about $58,000. PNC Financial Services Group Inc. increased its position in shares of Franklin Investment Grade Corporate ETF by 35.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the company’s stock worth $78,000 after purchasing an additional 940 shares during the last quarter. Royal Bank of Canada raised its stake in Franklin Investment Grade Corporate ETF by 30.0% in the fourth quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock valued at $177,000 after purchasing an additional 1,891 shares in the last quarter. HighTower Advisors LLC raised its stake in Franklin Investment Grade Corporate ETF by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock valued at $356,000 after purchasing an additional 954 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in Franklin Investment Grade Corporate ETF by 433.7% during the third quarter. Brooklyn Investment Group now owns 19,204 shares of the company’s stock valued at $420,000 after purchasing an additional 15,606 shares during the last quarter.

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.