Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Reaches New 12-Month High – Should You Buy?

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) hit a new 52-week high on Wednesday . The company traded as high as $70.07 and last traded at $70.07, with a volume of 124 shares trading hands. The stock had previously closed at $64.65.

Franklin U.S. Equity Index ETF Trading Down 0.7%

The company has a fifty day moving average of $65.18 and a 200-day moving average of $61.99. The stock has a market cap of $1.96 billion, a PE ratio of 25.39 and a beta of 0.93.

Hedge Funds Weigh In On Franklin U.S. Equity Index ETF

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Franklin U.S. Equity Index ETF by 19.9% during the second quarter. Bank of America Corp DE now owns 2,736 shares of the company’s stock worth $149,000 after purchasing an additional 455 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of Franklin U.S. Equity Index ETF in the second quarter valued at approximately $37,000. Kestra Advisory Services LLC purchased a new stake in Franklin U.S. Equity Index ETF during the 4th quarter worth approximately $35,000. O Shaughnessy Asset Management LLC purchased a new stake in Franklin U.S. Equity Index ETF during the 4th quarter worth approximately $46,000. Finally, TOWER TRUST & INVESTMENT Co acquired a new stake in Franklin U.S. Equity Index ETF during the 2nd quarter worth approximately $82,000.

About Franklin U.S. Equity Index ETF

The fund invests at least 80% of its assets in the component securities of the underlying index. The index is a free float-adjusted market capitalization weighted index that is maintained and calculated by Morningstar, Inc (Morningstar or index provider).