Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Short Interest Update

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 185,544 shares, a growth of 43.7% from the February 12th total of 129,087 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 534,620 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 534,620 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new position in shares of Franklin Dynamic Municipal Bond ETF during the fourth quarter worth $579,000. SHP Wealth Management acquired a new stake in Franklin Dynamic Municipal Bond ETF in the fourth quarter valued at $844,000. Arwa LLC acquired a new stake in Franklin Dynamic Municipal Bond ETF in the fourth quarter valued at $455,000. Axxcess Wealth Management LLC lifted its holdings in Franklin Dynamic Municipal Bond ETF by 2.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 34,220 shares of the company’s stock worth $851,000 after buying an additional 891 shares during the last quarter. Finally, Coastal Bridge Advisors LLC lifted its holdings in Franklin Dynamic Municipal Bond ETF by 299.3% during the 4th quarter. Coastal Bridge Advisors LLC now owns 39,354 shares of the company’s stock worth $979,000 after buying an additional 29,499 shares during the last quarter.

Franklin Dynamic Municipal Bond ETF Stock Performance

FLMI stock opened at $25.00 on Monday. The company’s 50 day moving average price is $25.14 and its 200 day moving average price is $24.91. Franklin Dynamic Municipal Bond ETF has a fifty-two week low of $23.05 and a fifty-two week high of $25.46.

Franklin Dynamic Municipal Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.0748 per share. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, March 2nd.

About Franklin Dynamic Municipal Bond ETF

The Franklin Dynamic Municipal Bond ETF (FLMI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that invests in municipal bonds of any credit quality. The portfolio manager seeks dollar-weighted average maturity of three to ten years. FLMI was launched on Aug 31, 2017 and is managed by Franklin Templeton.