Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Reaches New 12-Month High – Time to Buy?

Franklin U.S. Equity Index ETF (NYSEARCA:USPX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $51.66 and last traded at $51.64, with a volume of 1014 shares traded. The stock had previously closed at $50.53.

Franklin U.S. Equity Index ETF Trading Up 2.7 %

The company has a market cap of $1.26 billion, a PE ratio of 25.97 and a beta of 1.02. The firm has a 50 day moving average of $49.85 and a two-hundred day moving average of $48.02.

Hedge Funds 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 business. Bank of New York Mellon Corp lifted its holdings in shares of Franklin U.S. Equity Index ETF by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,266,906 shares of the company’s stock valued at $60,370,000 after buying an additional 124,376 shares during the period. Sanctuary Advisors LLC bought a new position in Franklin U.S. Equity Index ETF in the 2nd quarter worth $85,695,000. Finally, Park Avenue Securities LLC raised its holdings 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 worth $1,012,000 after purchasing an additional 9,313 shares during the period.

About Franklin U.S. Equity Index ETF

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).