Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 52-Week High – Still a Buy?

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.04 and last traded at $22.04, with a volume of 1068269 shares changing hands. The stock had previously closed at $21.98.

Franklin Investment Grade Corporate ETF Price Performance

The company’s 50-day moving average price is $21.80 and its two-hundred day moving average price is $21.45.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Franklin Investment Grade Corporate ETF by 37.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,444 shares of the company’s stock worth $52,000 after acquiring an additional 672 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in Franklin Investment Grade Corporate ETF during the 2nd quarter worth approximately $109,000. Osaic Holdings Inc. boosted its stake in Franklin Investment Grade Corporate ETF by 2.6% in the 2nd quarter. Osaic Holdings Inc. now owns 21,471 shares of the company’s stock valued at $463,000 after purchasing an additional 553 shares during the period. Cetera Investment Advisers acquired a new position in Franklin Investment Grade Corporate ETF in the 1st quarter valued at $502,000. Finally, OneAscent Financial Services LLC bought a new position in Franklin Investment Grade Corporate ETF during the 1st quarter worth $841,000.

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.