Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 12-Month Low – Should You Sell?

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $20.63 and last traded at $20.6210, with a volume of 26124 shares changing hands. The stock had previously closed at $20.64.

Franklin Investment Grade Corporate ETF Stock Performance

The firm has a 50 day moving average price of $21.01 and a two-hundred day moving average price of $21.29.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in Franklin Investment Grade Corporate ETF in the 4th quarter worth about $58,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $78,000 after acquiring an additional 940 shares during the period. Royal Bank of Canada raised its holdings 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 acquiring an additional 1,891 shares during the period. HighTower Advisors LLC lifted its position in shares of Franklin Investment Grade Corporate ETF by 6.2% in the 4th quarter. HighTower Advisors LLC now owns 16,431 shares of the company’s stock valued at $356,000 after acquiring an additional 954 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Franklin Investment Grade Corporate ETF by 433.7% in the 3rd quarter. Brooklyn Investment Group now owns 19,204 shares of the company’s stock valued at $420,000 after acquiring an additional 15,606 shares in 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.