Franklin Income Focus ETF (NYSEARCA:INCM) Hits New 52-Week High – Here’s Why

Franklin Income Focus ETF (NYSEARCA:INCM) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $29.38 and last traded at $29.36, with a volume of 467969 shares changing hands. The stock had previously closed at $29.28.

Franklin Income Focus ETF Stock Performance

The business has a 50 day moving average price of $28.52 and a 200-day moving average price of $27.96. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -50,034.07 and a beta of 0.49.

Franklin Income Focus ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Friday, January 30th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 4.9%. Franklin Income Focus ETF’s dividend payout ratio is currently -240,204.42%.

Hedge Funds Weigh In On Franklin Income Focus ETF

Large investors have recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of Franklin Income Focus ETF in the fourth quarter valued at $35,000. Comerica Bank bought a new stake in Franklin Income Focus ETF during the first quarter worth $53,000. International Assets Investment Management LLC purchased a new position in Franklin Income Focus ETF in the fourth quarter worth $90,000. Titleist Asset Management LLC bought a new position in Franklin Income Focus ETF in the 4th quarter valued at $201,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Franklin Income Focus ETF during the 3rd quarter valued at $214,000.

About Franklin Income Focus ETF

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.