Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 52-Week Low – Should You Sell?

Shares of 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 $20.91 and last traded at $20.92, with a volume of 86309 shares. The stock had previously closed at $21.02.

Franklin Investment Grade Corporate ETF Stock Performance

The company has a 50-day moving average of $21.24 and a 200 day moving average of $21.43.

Institutional Trading of 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 acquired a new position in shares of Franklin Investment Grade Corporate ETF during the 4th quarter valued at about $58,000. PNC Financial Services Group Inc. raised its stake in 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 worth $78,000 after purchasing an additional 940 shares during the period. Royal Bank of Canada raised its stake in 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 worth $177,000 after purchasing an additional 1,891 shares during the period. HighTower Advisors LLC boosted its holdings 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 valued at $356,000 after purchasing an additional 954 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in 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 purchasing an additional 15,606 shares during 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.