Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Sees Unusually-High Trading Volume – Time to Buy?

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) saw unusually-high trading volume on Friday . Approximately 1,895,810 shares changed hands during mid-day trading, an increase of 1,992% from the previous session’s volume of 90,611 shares.The stock last traded at $57.91 and had previously closed at $58.26.

Franklin U.S. Equity Index ETF Price Performance

The company has a 50 day simple moving average of $60.06 and a 200-day simple moving average of $59.32. The stock has a market capitalization of $1.64 billion, a P/E ratio of 25.39 and a beta of 0.92.

Institutional Investors Weigh In On Franklin U.S. Equity Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in Franklin U.S. Equity Index ETF during the fourth quarter valued at about $35,000. LPL Financial LLC increased its stake in shares of Franklin U.S. Equity Index ETF by 5.9% in the fourth quarter. LPL Financial LLC now owns 189,990 shares of the company’s stock worth $11,358,000 after purchasing an additional 10,642 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Franklin U.S. Equity Index ETF by 3.6% in the fourth quarter. Franklin Resources Inc. now owns 11,551,365 shares of the company’s stock worth $690,538,000 after purchasing an additional 401,364 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Franklin U.S. Equity Index ETF in the fourth quarter valued at approximately $46,000. Finally, JPMorgan Chase & Co. raised its position in shares of Franklin U.S. Equity Index ETF by 6.4% in the fourth quarter. JPMorgan Chase & Co. now owns 459,094 shares of the company’s stock valued at $27,445,000 after purchasing an additional 27,413 shares during the period.

Franklin U.S. Equity Index ETF Company Profile

The fund invests at least 80% of its assets in the component securities of the underlying index. The index is a free float-adjusted market capitalization weighted index that is maintained and calculated by Morningstar, Inc (Morningstar or index provider).