Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) saw an uptick in trading volume on Friday . 106,952 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 66,000 shares.The stock last traded at $21.7050 and had previously closed at $21.71.

Franklin Investment Grade Corporate ETF Stock Performance

The stock has a fifty day simple moving average of $21.72 and a 200-day simple moving average of $21.72.

Institutional Investors Weigh In On Franklin Investment Grade Corporate ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its position in Franklin Investment Grade Corporate ETF by 5.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 5,110,382 shares of the company’s stock worth $110,308,000 after buying an additional 277,363 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of Franklin Investment Grade Corporate ETF during the second quarter worth $109,000. Benjamin Edwards Inc. raised its stake in Franklin Investment Grade Corporate ETF by 20.9% during the third quarter. Benjamin Edwards Inc. now owns 278,192 shares of the company’s stock worth $6,087,000 after buying an additional 48,138 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Franklin Investment Grade Corporate ETF by 7.1% in the second quarter. Franklin Resources Inc. now owns 15,744,173 shares of the company’s stock valued at $339,838,000 after buying an additional 1,041,806 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Franklin Investment Grade Corporate ETF by 22.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 187,734 shares of the company’s stock worth $4,052,000 after acquiring an additional 34,458 shares during the period.

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.