912,184 Shares in Franklin Income Focus ETF $INCM Purchased by Summit Investment Advisory Services LLC

Summit Investment Advisory Services LLC purchased a new position in Franklin Income Focus ETF (NYSEARCA:INCM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 912,184 shares of the company’s stock, valued at approximately $24,675,000. Franklin Income Focus ETF accounts for approximately 10.6% of Summit Investment Advisory Services LLC’s holdings, making the stock its 4th biggest position. Summit Investment Advisory Services LLC owned about 2.71% of Franklin Income Focus ETF at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INCM. Comerica Bank purchased a new stake in shares of Franklin Income Focus ETF in the 1st quarter valued at $53,000. Nations Financial Group Inc. IA ADV purchased a new stake in Franklin Income Focus ETF in the third quarter valued at $214,000. PFG Advisors acquired a new stake in Franklin Income Focus ETF during the 2nd quarter worth about $217,000. WCG Wealth Advisors LLC purchased a new position in shares of Franklin Income Focus ETF during the 2nd quarter valued at about $270,000. Finally, HBW Advisory Services LLC raised its stake in shares of Franklin Income Focus ETF by 4.1% during the 3rd quarter. HBW Advisory Services LLC now owns 11,456 shares of the company’s stock valued at $318,000 after buying an additional 451 shares during the last quarter.

Franklin Income Focus ETF Stock Performance

INCM opened at $28.94 on Wednesday. The company has a fifty day moving average of $28.22 and a two-hundred day 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 fifty-two week low of $24.62 and a fifty-two week high of $28.96.

Franklin Income Focus ETF Company Profile

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.