Franklin Income Focus ETF (NYSEARCA:INCM) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Franklin Income Focus ETF (NYSEARCA:INCM) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $29.14 and traded as high as $29.42. Franklin Income Focus ETF shares last traded at $29.42, with a volume of 429,660 shares traded.

Franklin Income Focus ETF Stock Up 1.2%

The stock has a market capitalization of $2.05 billion, a P/E ratio of -50,119.25 and a beta of 0.40. The stock has a 50 day simple moving average of $29.06 and a two-hundred day simple moving average of $29.14.

Hedge Funds Weigh In On Franklin Income Focus ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Franklin Income Focus ETF by 16.7% in the first quarter. Royal Bank of Canada now owns 1,558,296 shares of the company’s stock valued at $44,801,000 after acquiring an additional 223,466 shares during the last quarter. Bank of America Corp DE raised its holdings in Franklin Income Focus ETF by 8.2% during the 1st quarter. Bank of America Corp DE now owns 1,341,701 shares of the company’s stock worth $38,574,000 after purchasing an additional 102,252 shares during the last quarter. Summit Investment Advisory Services LLC raised its holdings in Franklin Income Focus ETF by 2.9% during the 3rd quarter. Summit Investment Advisory Services LLC now owns 1,137,829 shares of the company’s stock worth $32,383,000 after purchasing an additional 32,162 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Franklin Income Focus ETF by 7.8% in the 1st quarter. Cetera Investment Advisers now owns 621,105 shares of the company’s stock worth $17,857,000 after purchasing an additional 44,721 shares during the period. Finally, Next Level Private LLC lifted its position in shares of Franklin Income Focus ETF by 11.1% in the 2nd quarter. Next Level Private LLC now owns 439,360 shares of the company’s stock worth $12,678,000 after purchasing an additional 43,892 shares during the period.

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.