Franklin FTSE South Korea ETF (NYSEARCA:FLKR) Shares Gap Up – Here’s Why

Franklin FTSE South Korea ETF (NYSEARCA:FLKR)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $56.22, but opened at $60.10. Franklin FTSE South Korea ETF shares last traded at $60.06, with a volume of 218,858 shares traded.

Franklin FTSE South Korea ETF Stock Up 6.9%

The firm has a market capitalization of $889.78 million, a PE ratio of 10.49 and a beta of 1.46. The stock’s fifty day simple moving average is $53.11 and its 200 day simple moving average is $42.85.

Institutional Trading of Franklin FTSE South Korea ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of Franklin FTSE South Korea ETF by 50.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the company’s stock worth $73,000 after purchasing an additional 608 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Franklin FTSE South Korea ETF during the first quarter worth $382,000. Spartan Wealth Advisory Services LLC bought a new position in Franklin FTSE South Korea ETF during the first quarter valued at $1,334,000. Wealthfront Advisers LLC bought a new position in Franklin FTSE South Korea ETF during the first quarter valued at $723,000. Finally, Hsbc Holdings PLC bought a new position in Franklin FTSE South Korea ETF during the fourth quarter valued at $722,000.

About Franklin FTSE South Korea ETF

The Franklin FTSE South Korea ETF (FLKR) is an exchange-traded fund that is based on the FTSE South Korea RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap South Korean companies. FLKR was launched on Nov 2, 2017 and is managed by Franklin Templeton.