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

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.96 and last traded at $21.02, with a volume of 1787 shares. The stock had previously closed at $21.08.

Franklin Investment Grade Corporate ETF Trading Up 0.3%

The company has a 50-day moving average price of $21.29 and a 200-day moving average price of $21.47.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

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

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.