Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Franklin Investment Grade Corporate ETF (NYSEARCA:FLCO) saw an uptick in trading volume on Thursday . 346,724 shares changed hands during mid-day trading, an increase of 218% from the previous session’s volume of 108,987 shares.The stock last traded at $21.38 and had previously closed at $21.47.

Franklin Investment Grade Corporate ETF Stock Down 0.2%

The company has a fifty day moving average price of $21.71 and a two-hundred day moving average price of $21.77.

Franklin Investment Grade Corporate ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a $0.0726 dividend. The ex-dividend date was Monday, March 2nd. This represents a c) annualized dividend and a yield of 4.1%.

Hedge Funds Weigh In On Franklin Investment Grade Corporate ETF

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of Franklin Investment Grade Corporate ETF by 22.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 187,734 shares of the company’s stock worth $4,052,000 after purchasing an additional 34,458 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Franklin Investment Grade Corporate ETF by 9.4% during the second quarter. Cetera Investment Advisers now owns 25,625 shares of the company’s stock worth $553,000 after buying an additional 2,203 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in Franklin Investment Grade Corporate ETF in the second quarter worth approximately $109,000. JPMorgan Chase & Co. increased its holdings in shares of Franklin Investment Grade Corporate ETF by 19.5% in the second quarter. JPMorgan Chase & Co. now owns 64,390 shares of the company’s stock valued at $1,390,000 after buying an additional 10,514 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Franklin Investment Grade Corporate ETF by 7.1% in the second quarter. Franklin Resources Inc. now owns 15,744,173 shares of the company’s stock valued at $339,838,000 after buying an additional 1,041,806 shares in the last quarter.

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.