Franklin Income Focus ETF (NYSEARCA:INCM) Hits New 52-Week High – Here’s Why

Franklin Income Focus ETF (NYSEARCA:INCM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.95 and last traded at $29.62, with a volume of 58905 shares trading hands. The stock had previously closed at $29.58.

Franklin Income Focus ETF Price Performance

The company’s 50 day simple moving average is $29.24 and its 200 day simple moving average is $29.20. The company has a market capitalization of $1.75 billion, a PE ratio of -50,528.11 and a beta of 0.40.

Institutional Investors Weigh In On Franklin Income Focus ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in Franklin Income Focus ETF by 43.0% in the first quarter. Assetmark Inc. now owns 1,797 shares of the company’s stock valued at $52,000 after acquiring an additional 540 shares in the last quarter. Comerica Bank acquired a new stake in shares of Franklin Income Focus ETF during the first quarter worth about $53,000. Geneos Wealth Management Inc. acquired a new stake in shares of Franklin Income Focus ETF during the first quarter worth about $62,000. International Assets Investment Management LLC purchased a new stake in shares of Franklin Income Focus ETF in the 4th quarter valued at about $90,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Franklin Income Focus ETF in the 1st quarter valued at about $120,000.

About Franklin Income Focus ETF

The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.