Franklin Income Focus ETF (NYSEARCA:INCM) Hits New 12-Month High – Time to Buy?

Franklin Income Focus ETF (NYSEARCA:INCM) hit a new 52-week high on Wednesday . The stock traded as high as $28.96 and last traded at $28.94, with a volume of 323419 shares. The stock had previously closed at $28.87.

Franklin Income Focus ETF Stock Up 0.2%

The stock has a 50-day moving average price of $28.22 and a 200 day moving average price of $27.82. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -49,301.53 and a beta of 0.49.

Institutional Investors Weigh In On Franklin Income Focus ETF

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. grew its stake in shares of 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 worth $54,148,000 after purchasing an additional 258,689 shares in the last quarter. Summit Investment Advisory Services LLC increased its holdings in shares of Franklin Income Focus ETF by 6.5% in the 3rd quarter. Summit Investment Advisory Services LLC now owns 971,422 shares of the company’s stock valued at $26,947,000 after acquiring an additional 59,238 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Franklin Income Focus ETF by 32.7% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Franklin Income Focus ETF by 32.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 718,490 shares of the company’s stock valued at $20,369,000 after purchasing an additional 177,205 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Franklin Income Focus ETF by 65.3% in the third quarter. Larson Financial Group LLC now owns 550,795 shares of the company’s stock valued at $15,279,000 after purchasing an additional 217,670 shares during the last quarter.

Franklin Income Focus ETF Company Profile

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.