Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Reaches New 52-Week High – Should You Buy?

Shares of Franklin U.S. Equity Index ETF (NYSEARCA:USPX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.21 and last traded at $51.17, with a volume of 2696 shares. The stock had previously closed at $51.15.

Franklin U.S. Equity Index ETF Stock Down 0.4 %

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.97 and a beta of 1.02. The firm has a fifty day moving average of $48.94 and a 200-day moving average of $47.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in Franklin U.S. Equity Index ETF by 86.1% in the 3rd quarter. Park Avenue Securities LLC now owns 20,130 shares of the company’s stock valued at $1,012,000 after buying an additional 9,313 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Franklin U.S. Equity Index ETF by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 1,266,906 shares of the company’s stock worth $60,370,000 after acquiring an additional 124,376 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Franklin U.S. Equity Index ETF in the second quarter valued at $85,695,000.

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).