Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Reaches New 12-Month Low – Time to Sell?

Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $20.90 and last traded at $20.90, with a volume of 15531 shares. The stock had previously closed at $20.97.

Franklin Investment Grade Corporate ETF Stock Down 0.3%

The stock’s fifty day simple moving average is $21.20 and its two-hundred day simple moving average is $21.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its stake in Franklin Investment Grade Corporate ETF by 3.5% during the fourth quarter. Hantz Financial Services Inc. now owns 5,369,885 shares of the company’s stock valued at $116,258,000 after buying an additional 181,499 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Franklin Investment Grade Corporate ETF by 3.4% during the first quarter. Bank of America Corp DE now owns 989,730 shares of the company’s stock valued at $21,200,000 after acquiring an additional 32,807 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Franklin Investment Grade Corporate ETF by 10.3% during the first quarter. Sanctuary Advisors LLC now owns 419,177 shares of the company’s stock valued at $8,979,000 after acquiring an additional 39,008 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Franklin Investment Grade Corporate ETF by 3.5% in the 4th quarter. Benjamin Edwards Inc. now owns 287,986 shares of the company’s stock worth $6,235,000 after purchasing an additional 9,794 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Franklin Investment Grade Corporate ETF by 9.7% in the 1st quarter. Bank of New York Mellon Corp now owns 250,706 shares of the company’s stock worth $5,370,000 after purchasing an additional 22,226 shares during the last quarter.

About Franklin Investment Grade Corporate ETF

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.