Franklin Income Focus ETF (NYSEARCA:INCM) Hits New 12-Month High – Time to Buy?

Franklin Income Focus ETF (NYSEARCA:INCM)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $29.57 and last traded at $29.3550, with a volume of 63406 shares. The stock had previously closed at $29.48.

Franklin Income Focus ETF Price Performance

The company’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $28.03. The stock has a market cap of $1.23 billion, a P/E ratio of -50,042.59 and a beta of 0.49.

Franklin Income Focus ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Friday, January 30th were issued a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, January 30th. Franklin Income Focus ETF’s dividend payout ratio (DPR) is presently -240,204.42%.

Institutional Investors Weigh In On Franklin Income Focus ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. acquired a new stake in shares of Franklin Income Focus ETF in the fourth quarter valued at approximately $35,000. Comerica Bank acquired a new stake in Franklin Income Focus ETF in the 1st quarter valued at $53,000. International Assets Investment Management LLC acquired a new position in Franklin Income Focus ETF during the 4th quarter valued at about $90,000. Titleist Asset Management LLC purchased a new stake in shares of Franklin Income Focus ETF in the fourth quarter worth approximately $201,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Franklin Income Focus ETF in the third quarter valued at approximately $214,000.

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.