Franklin FTSE Canada ETF (NYSEARCA:FLCA) Reaches New 1-Year High – Still a Buy?

Franklin FTSE Canada ETF (NYSEARCA:FLCA)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $51.30 and last traded at $50.2890, with a volume of 2086 shares traded. The stock had previously closed at $50.77.

Franklin FTSE Canada ETF Trading Up 1.6%

The company has a fifty day simple moving average of $48.93 and a 200-day simple moving average of $46.11. The company has a market capitalization of $629.88 million, a PE ratio of 19.67 and a beta of 0.93.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC purchased a new stake in Franklin FTSE Canada ETF in the second quarter valued at $5,034,000. Elm Partners Management LLC boosted its stake in Franklin FTSE Canada ETF by 174.4% during the second quarter. Elm Partners Management LLC now owns 30,758 shares of the company’s stock worth $1,284,000 after buying an additional 19,548 shares during the period. Bank of Montreal Can increased its position in shares of Franklin FTSE Canada ETF by 12.5% during the second quarter. Bank of Montreal Can now owns 56,623 shares of the company’s stock valued at $2,364,000 after acquiring an additional 6,295 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Franklin FTSE Canada ETF by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,331 shares of the company’s stock valued at $56,000 after acquiring an additional 610 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of Franklin FTSE Canada ETF by 101.7% in the 2nd quarter. Scotia Capital Inc. now owns 12,179 shares of the company’s stock valued at $508,000 after acquiring an additional 6,142 shares during the period.

About Franklin FTSE Canada ETF

The Franklin FTSE Canada ETF (FLCA) is an exchange-traded fund that is based on the FTSE Canada RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Canadian stocks. FLCA was launched on Nov 2, 2017 and is managed by Franklin Templeton.