Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Shares Break Above 50 Day Moving Average – Here’s Why

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $20.64 and traded as high as $20.69. Franklin Investment Grade Corporate ETF shares last traded at $20.67, with a volume of 182,346 shares.

Franklin Investment Grade Corporate ETF Stock Up 0.3%

The company has a fifty day moving average of $20.63 and a 200 day moving average of $21.22.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC raised its stake in Franklin Investment Grade Corporate ETF by 49.5% in the 2nd quarter. Citadel Advisors LLC now owns 176,968 shares of the company’s stock valued at $3,794,000 after acquiring an additional 58,586 shares during the period. Sanctuary Advisors LLC grew its position in shares of Franklin Investment Grade Corporate ETF by 10.3% during the 1st quarter. Sanctuary Advisors LLC now owns 419,177 shares of the company’s stock valued at $8,979,000 after purchasing an additional 39,008 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Franklin Investment Grade Corporate ETF by 12.9% during the second quarter. Envestnet Asset Management Inc. now owns 238,524 shares of the company’s stock worth $5,114,000 after buying an additional 27,252 shares in the last quarter. RFG Advisory LLC bought a new position in shares of Franklin Investment Grade Corporate ETF in the second quarter worth approximately $1,097,000. Finally, Bank of America Corp DE raised its stake in Franklin Investment Grade Corporate ETF by 3.4% in the first quarter. Bank of America Corp DE now owns 989,730 shares of the company’s stock valued at $21,200,000 after purchasing an additional 32,807 shares in 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.