Franklin FTSE Japan ETF (NYSEARCA:FLJP) Sets New 52-Week High – Time to Buy?

Franklin FTSE Japan ETF (NYSEARCA:FLJP) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.40 and last traded at $41.40, with a volume of 1002 shares changing hands. The stock had previously closed at $41.04.

Franklin FTSE Japan ETF Trading Up 0.8%

The company has a market cap of $3.82 billion, a price-to-earnings ratio of 14.28 and a beta of 0.65. The company’s 50 day moving average price is $38.95 and its 200 day moving average price is $37.42.

Institutional Investors Weigh In On Franklin FTSE Japan ETF

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Franklin FTSE Japan ETF by 12.4% in the first quarter. Bank of America Corp DE now owns 13,696,433 shares of the company’s stock valued at $495,537,000 after purchasing an additional 1,515,922 shares during the period. Principal Financial Group Inc. purchased a new stake in Franklin FTSE Japan ETF during the first quarter worth about $23,938,000. Tradewinds Capital Management LLC acquired a new position in Franklin FTSE Japan ETF during the fourth quarter worth about $14,100,000. Morningstar Investment Management LLC acquired a new position in Franklin FTSE Japan ETF during the first quarter worth about $11,886,000. Finally, Quadrature Capital Ltd purchased a new position in Franklin FTSE Japan ETF in the fourth quarter valued at about $11,306,000.

Franklin FTSE Japan ETF Company Profile

The Franklin FTSE Japan ETF (FLJP) is an exchange-traded fund that is based on the FTSE Japan RIC Capped index. The fund tracks a market-cap-selected and -weighted index of Japanese equities. FLJP was launched on Nov 2, 2017 and is managed by Franklin Templeton.