Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Hits New 1-Year High – Time to Buy?

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) hit a new 52-week high during trading on Friday . The company traded as high as $53.61 and last traded at $53.50, with a volume of 914 shares changing hands. The stock had previously closed at $53.51.

Franklin U.S. Equity Index ETF Stock Performance

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 25.97 and a beta of 1.02. The business’s 50 day moving average is $52.35 and its 200-day moving average is $50.36.

Hedge Funds Weigh In On Franklin U.S. Equity Index ETF

A number of institutional investors and hedge funds have recently bought and sold shares of USPX. IronBridge Private Wealth LLC bought a new stake in shares of Franklin U.S. Equity Index ETF in the 3rd quarter worth approximately $261,000. Park Avenue Securities LLC raised its stake in shares of Franklin U.S. Equity Index ETF by 86.1% in the third quarter. Park Avenue Securities LLC now owns 20,130 shares of the company’s stock valued at $1,012,000 after purchasing an additional 9,313 shares in the last quarter. Jane Street Group LLC lifted its position in Franklin U.S. Equity Index ETF by 587.0% in the third quarter. Jane Street Group LLC now owns 31,994 shares of the company’s stock worth $1,608,000 after purchasing an additional 27,337 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Franklin U.S. Equity Index ETF during the second quarter worth $85,695,000.

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).