Franklin U.S. Equity Index ETF (NYSEARCA:USPX) Sees Strong Trading Volume – Here’s Why

Franklin U.S. Equity Index ETF (NYSEARCA:USPX) saw unusually-strong trading volume on Thursday . Approximately 566,082 shares changed hands during mid-day trading, an increase of 1,005% from the previous session’s volume of 51,246 shares.The stock last traded at $50.02 and had previously closed at $50.81.

Franklin U.S. Equity Index ETF Price Performance

The stock has a market cap of $1.21 billion, a P/E ratio of 25.97 and a beta of 1.02. The firm’s 50 day moving average price is $49.80 and its 200-day moving average price is $47.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 124,376 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Franklin U.S. Equity Index ETF in the 2nd quarter worth $85,695,000. Finally, Park Avenue Securities LLC grew its holdings 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 worth $1,012,000 after acquiring an additional 9,313 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).