Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Hits New 52-Week 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 Monday . The company traded as low as $20.63 and last traded at $20.6210, with a volume of 26124 shares traded. The stock had previously closed at $20.64.

Franklin Investment Grade Corporate ETF Trading Down 0.1%

The company’s fifty day simple moving average is $21.01 and its two-hundred day simple moving average is $21.29.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

Several large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its stake in shares of Franklin Investment Grade Corporate ETF by 3.5% during the fourth quarter. Hantz Financial Services Inc. now owns 5,369,885 shares of the company’s stock valued at $116,258,000 after acquiring an additional 181,499 shares during the period. Bank of America Corp DE grew its holdings in Franklin Investment Grade Corporate ETF by 3.4% during the first quarter. Bank of America Corp DE now owns 989,730 shares of the company’s stock worth $21,200,000 after acquiring an additional 32,807 shares during the period. Sanctuary Advisors LLC raised its position in Franklin Investment Grade Corporate ETF by 10.3% in the first 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $5,370,000 after purchasing an additional 22,226 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Franklin Investment Grade Corporate ETF by 151.4% during the third quarter. Citadel Advisors LLC now owns 206,417 shares of the company’s stock worth $4,516,000 after buying an additional 124,317 shares in 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.