Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Hits New 52-Week High – Here’s Why

Shares of Franklin U.S. Equity Index ETF (NYSEARCA:USPX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.19 and last traded at $60.33, with a volume of 77580 shares. The stock had previously closed at $60.51.

Franklin U.S. Equity Index ETF Price Performance

The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.39 and a beta of 0.92. The firm has a 50-day moving average price of $59.60 and a two-hundred day moving average price of $57.42.

Hedge Funds Weigh In On Franklin U.S. Equity Index ETF

Several hedge funds have recently made changes to their positions in the business. Huntington National Bank bought a new stake in shares of Franklin U.S. Equity Index ETF in the third quarter worth $53,000. Bank of America Corp DE increased its stake in Franklin U.S. Equity Index ETF by 19.9% in the 2nd quarter. Bank of America Corp DE now owns 2,736 shares of the company’s stock valued at $149,000 after buying an additional 455 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Franklin U.S. Equity Index ETF in the 2nd quarter valued at $254,000. Envestnet Asset Management Inc. bought a new stake in Franklin U.S. Equity Index ETF during the 2nd quarter worth about $704,000. Finally, Park Avenue Securities LLC bought a new stake in Franklin U.S. Equity Index ETF during the 2nd quarter worth about $1,280,000.

Franklin U.S. Equity Index ETF Company Profile

The fund invests at least 80% of its assets in the component securities of the underlying index. The index is a free float-adjusted market capitalization weighted index that is maintained and calculated by Morningstar, Inc (Morningstar or index provider).