Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 52-Week Low – Here’s Why

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) reached a new 52-week low during trading on Tuesday . The stock traded as low as $21.08 and last traded at $21.08, with a volume of 7980 shares trading hands. The stock had previously closed at $21.14.

Franklin Investment Grade Corporate ETF Stock Down 0.2%

The company’s 50 day moving average price is $21.33 and its two-hundred day moving average price is $21.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in shares of Franklin Investment Grade Corporate ETF by 9.4% during the 2nd quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock valued at $553,000 after acquiring an additional 2,203 shares during the period. JPMorgan Chase & Co. raised its holdings in Franklin Investment Grade Corporate ETF by 19.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,390 shares of the company’s stock worth $1,390,000 after purchasing an additional 10,514 shares during the period. Ameriprise Financial Inc. lifted its position in Franklin Investment Grade Corporate ETF by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 93,218 shares of the company’s stock valued at $2,011,000 after purchasing an additional 3,745 shares in the last quarter. Bank of America Corp DE lifted its position in Franklin Investment Grade Corporate ETF by 7.6% during the second quarter. Bank of America Corp DE now owns 942,629 shares of the company’s stock valued at $20,347,000 after purchasing an additional 66,524 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in Franklin Investment Grade Corporate ETF by 70.7% during the second quarter. MML Investors Services LLC now owns 62,574 shares of the company’s stock valued at $1,351,000 after purchasing an additional 25,925 shares during the period.

Franklin Investment Grade Corporate ETF Company Profile

The Franklin Investment Grade Corporate ETF (FLCO) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that uses a combined top-down and bottom-up approach to select investment-grade USD-denominated bonds without a duration target. FLCO was launched on Oct 3, 2016 and is managed by Franklin Templeton.