Franklin Income Focus ETF (NYSEARCA:INCM) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Franklin Income Focus ETF (NYSEARCA:INCM) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $29.14 and traded as high as $29.42. Franklin Income Focus ETF shares last traded at $29.42, with a volume of 429,660 shares changing hands.

Franklin Income Focus ETF Stock Down 0.5%

The firm has a market cap of $2.01 billion, a P/E ratio of -49,199.32 and a beta of 0.40. The stock’s 50-day simple moving average is $29.03 and its 200 day simple moving average is $29.14.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Jacobi Capital Management LLC grew its position in Franklin Income Focus ETF by 4.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 32,064 shares of the company’s stock valued at $913,000 after purchasing an additional 1,383 shares during the period. Lido Advisors LLC bought a new stake in Franklin Income Focus ETF during the 3rd quarter valued at $3,843,000. Summit Investment Advisory Services LLC increased its stake in Franklin Income Focus ETF by 2.9% during the 3rd quarter. Summit Investment Advisory Services LLC now owns 1,137,829 shares of the company’s stock valued at $32,383,000 after purchasing an additional 32,162 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Franklin Income Focus ETF by 23.9% during the third quarter. Kestra Advisory Services LLC now owns 171,215 shares of the company’s stock worth $4,894,000 after buying an additional 33,021 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in Franklin Income Focus ETF during the third quarter worth $8,969,000.

Franklin Income Focus ETF Company Profile

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.