Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 52-Week Low – Should You Sell?

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.72 and last traded at $20.8490, with a volume of 36599 shares changing hands. The stock had previously closed at $20.84.

Franklin Investment Grade Corporate ETF Trading Down 0.1%

The stock’s 50-day moving average is $21.03 and its 200-day moving average is $21.30.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLCO. Kestra Advisory Services LLC acquired a new stake in shares of Franklin Investment Grade Corporate ETF during the 4th quarter valued at $58,000. PNC Financial Services Group Inc. raised its position in 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 valued at $78,000 after purchasing an additional 940 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of 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 valued at $177,000 after purchasing an additional 1,891 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Franklin Investment Grade Corporate ETF by 6.2% during the fourth quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock worth $356,000 after purchasing an additional 954 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of 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 worth $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.