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 unusually-high trading volume on Monday . Approximately 249,498 shares were traded during mid-day trading, an increase of 180% from the previous session’s volume of 89,087 shares.The stock last traded at $20.96 and had previously closed at $21.02.

Franklin Investment Grade Corporate ETF Price Performance

The business has a 50 day simple moving average of $21.11 and a two-hundred day simple moving average of $21.35.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in Franklin Investment Grade Corporate ETF by 2.6% during the 2nd quarter. Osaic Holdings Inc. now owns 21,471 shares of the company’s stock valued at $463,000 after buying an additional 553 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Franklin Investment Grade Corporate ETF by 35.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the company’s stock valued at $78,000 after buying an additional 940 shares during the period. HighTower Advisors LLC grew its stake in 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 worth $356,000 after acquiring an additional 954 shares in the last quarter. Royal Bank of Canada grew its stake in Franklin Investment Grade Corporate ETF by 30.0% in the 4th quarter. Royal Bank of Canada now owns 8,191 shares of the company’s stock worth $177,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Franklin Investment Grade Corporate ETF by 9.4% in the 2nd quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock worth $553,000 after acquiring an additional 2,203 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.