Franklin FTSE India ETF (NYSEARCA:FLIN) Hits New 1-Year Low – What’s Next?

Franklin FTSE India ETF (NYSEARCA:FLIN) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.83 and last traded at $32.91, with a volume of 975738 shares changing hands. The stock had previously closed at $33.97.

Franklin FTSE India ETF Trading Down 3.1%

The firm has a 50-day moving average of $36.64 and a two-hundred day moving average of $37.83. The firm has a market capitalization of $2.52 billion, a P/E ratio of 22.46 and a beta of 0.46.

Institutional Investors Weigh In On Franklin FTSE India ETF

Hedge funds have recently made changes to their positions in the stock. Investment Management Corp of Ontario grew its holdings in shares of Franklin FTSE India ETF by 220.3% during the 2nd quarter. Investment Management Corp of Ontario now owns 1,563,681 shares of the company’s stock valued at $62,281,000 after purchasing an additional 1,075,500 shares during the last quarter. Morgan Stanley boosted its position in Franklin FTSE India ETF by 2.4% in the fourth quarter. Morgan Stanley now owns 1,491,503 shares of the company’s stock valued at $57,557,000 after buying an additional 35,311 shares in the last quarter. AGF Management Ltd. boosted its position in Franklin FTSE India ETF by 16.9% in the third quarter. AGF Management Ltd. now owns 1,197,347 shares of the company’s stock valued at $44,649,000 after buying an additional 172,979 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Franklin FTSE India ETF by 30.7% during the third quarter. Principal Financial Group Inc. now owns 898,218 shares of the company’s stock worth $33,495,000 after buying an additional 210,899 shares during the last quarter. Finally, 3EDGE Asset Management LP acquired a new position in shares of Franklin FTSE India ETF during the fourth quarter worth $29,642,000.

Franklin FTSE India ETF Company Profile

The Franklin FTSE India ETF (FLIN) is an exchange-traded fund that is based on the FTSE India RIC Capped index. The fund tracks a market cap-weighted index of large- and mid-cap Indian securities. FLIN was launched on Feb 6, 2018 and is managed by Franklin Templeton.