Franklin FTSE South Korea ETF (NYSEARCA:FLKR) Shares Gap Down – Here’s Why

Franklin FTSE South Korea ETF (NYSEARCA:FLKR)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $60.04, but opened at $55.94. Franklin FTSE South Korea ETF shares last traded at $55.80, with a volume of 191,448 shares trading hands.

Franklin FTSE South Korea ETF Price Performance

The firm’s 50-day simple moving average is $62.39 and its 200 day simple moving average is $48.65. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.49 and a beta of 1.46.

Hedge Funds Weigh In On Franklin FTSE South Korea ETF

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of Franklin FTSE South Korea ETF by 121.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company’s stock worth $30,000 after buying an additional 674 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Franklin FTSE South Korea ETF during the fourth quarter worth $204,000. Greenline Partners LLC bought a new position in shares of Franklin FTSE South Korea ETF in the 3rd quarter valued at $208,000. Summit Financial LLC acquired a new position in Franklin FTSE South Korea ETF in the 4th quarter worth about $217,000. Finally, MRA Advisory Group bought a new stake in shares of Franklin FTSE South Korea ETF during the second quarter worth about $272,000.

About Franklin FTSE South Korea ETF

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