Summit Investment Advisory Services LLC acquired a new position in shares of Franklin Income Focus ETF (NYSEARCA:INCM – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 912,184 shares of the company’s stock, valued at approximately $24,675,000. Franklin Income Focus ETF makes up 10.6% of Summit Investment Advisory Services LLC’s holdings, making the stock its 4th largest position.
Several other hedge funds and other institutional investors have also made changes to their positions in INCM. Comerica Bank purchased a new stake in shares of Franklin Income Focus ETF during the first quarter worth approximately $53,000. Nations Financial Group Inc. IA ADV purchased a new position in Franklin Income Focus ETF in the 3rd quarter valued at $214,000. PFG Advisors acquired a new stake in Franklin Income Focus ETF during the 2nd quarter worth $217,000. WCG Wealth Advisors LLC acquired a new stake in Franklin Income Focus ETF during the 2nd quarter worth $270,000. Finally, HBW Advisory Services LLC grew its holdings in shares of Franklin Income Focus ETF by 4.1% during the third quarter. HBW Advisory Services LLC now owns 11,456 shares of the company’s stock worth $318,000 after buying an additional 451 shares in the last quarter.
Franklin Income Focus ETF Stock Up 0.2%
Shares of NYSEARCA INCM opened at $28.94 on Wednesday. The firm has a 50-day simple moving average of $28.22 and a 200-day simple moving average of $27.82. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -49,301.53 and a beta of 0.49. Franklin Income Focus ETF has a 52 week low of $24.62 and a 52 week high of $28.96.
About Franklin Income Focus ETF
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.
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