Franklin Income Focus ETF (NYSEARCA:INCM) Hits New 1-Year High – Time to Buy?

Franklin Income Focus ETF (NYSEARCA:INCM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.95 and last traded at $29.62, with a volume of 58905 shares traded. The stock had previously closed at $29.58.

Franklin Income Focus ETF Stock Up 0.1%

The business’s 50-day moving average price is $29.23 and its 200 day moving average price is $29.19. The company has a market capitalization of $1.75 billion, a P/E ratio of -50,459.97 and a beta of 0.40.

Institutional Trading of Franklin Income Focus ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. LPL Financial LLC increased its position in shares of Franklin Income Focus ETF by 40.2% in the fourth quarter. LPL Financial LLC now owns 3,821,161 shares of the company’s stock worth $107,145,000 after purchasing an additional 1,096,264 shares during the last quarter. Wells Fargo & Company MN raised its stake in Franklin Income Focus ETF by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,966,825 shares of the company’s stock valued at $55,150,000 after purchasing an additional 377,352 shares in the last quarter. Royal Bank of Canada raised its stake in Franklin Income Focus ETF by 35.2% in the fourth quarter. Royal Bank of Canada now owns 1,334,830 shares of the company’s stock valued at $37,428,000 after purchasing an additional 347,817 shares in the last quarter. Raymond James Financial Inc. lifted its position in Franklin Income Focus ETF by 15.3% during the third quarter. Raymond James Financial Inc. now owns 1,951,973 shares of the company’s stock valued at $54,148,000 after purchasing an additional 258,689 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Franklin Income Focus ETF by 32.7% during the third quarter. Ameriprise Financial Inc. now owns 908,507 shares of the company’s stock valued at $25,203,000 after purchasing an additional 223,654 shares during the last quarter.

About Franklin Income Focus ETF

The Franklin Income Focus ETF (INCM) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors. INCM was launched on Jun 6, 2023 and is managed by Franklin Templeton.