Franklin Exponential Data ETF (BATS:XDAT) Stock Price Down 11% – Here’s Why

Shares of Franklin Exponential Data ETF (BATS:XDAT) traded down 11% on Wednesday . The stock traded as low as $24.91 and last traded at $21.7750. 5,323 shares traded hands during trading, an increase of 289% from the average session volume of 1,369 shares. The stock had previously closed at $24.4701.

Franklin Exponential Data ETF Stock Performance

The firm has a market cap of $3.27 million, a price-to-earnings ratio of 45.15 and a beta of 1.11. The business’s 50 day moving average price is $25.50 and its 200 day moving average price is $26.57.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Franklin Exponential Data ETF stock. Truist Financial Corp grew its holdings in Franklin Exponential Data ETF (BATS:XDAT) by 10.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,737 shares of the company’s stock after buying an additional 2,795 shares during the quarter. Truist Financial Corp owned 19.16% of Franklin Exponential Data ETF worth $805,000 as of its most recent SEC filing.

About Franklin Exponential Data ETF

The Franklin Exponential Data ETF (XDAT) is an exchange-traded fund that mostly invests in information technology equity. The fund is actively-managed to invest in global companies believed to benefit from or facilitate Big Data and its applications such as AI, augmented and virtual reality, software-as-a-service, and personalized advertising and healthcare. XDAT was launched on Jan 12, 2021 and is managed by Franklin Templeton.