Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sees Significant Decline in Short Interest

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 109,335 shares, a decline of 42.8% from the July 15th total of 191,059 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 632,164 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Franklin Dynamic Municipal Bond ETF

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its position in Franklin Dynamic Municipal Bond ETF by 27.4% in the fourth quarter. LPL Financial LLC now owns 4,806,634 shares of the company’s stock valued at $119,541,000 after purchasing an additional 1,034,603 shares during the period. Bank of America Corp DE boosted its position in shares of Franklin Dynamic Municipal Bond ETF by 99.1% in the first quarter. Bank of America Corp DE now owns 2,703,252 shares of the company’s stock worth $67,014,000 after buying an additional 1,345,211 shares during the period. Meeder Advisory Services Inc. grew its stake in shares of Franklin Dynamic Municipal Bond ETF by 25.0% in the first quarter. Meeder Advisory Services Inc. now owns 2,365,948 shares of the company’s stock valued at $58,652,000 after buying an additional 473,020 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Franklin Dynamic Municipal Bond ETF by 93.1% in the third quarter. Ameriprise Financial Inc. now owns 2,048,279 shares of the company’s stock valued at $50,767,000 after buying an additional 987,594 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Franklin Dynamic Municipal Bond ETF by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock valued at $38,075,000 after buying an additional 660,284 shares during the period.

Franklin Dynamic Municipal Bond ETF Price Performance

Franklin Dynamic Municipal Bond ETF stock opened at $24.59 on Wednesday. Franklin Dynamic Municipal Bond ETF has a 52-week low of $24.05 and a 52-week high of $25.46. The firm has a fifty day moving average of $24.89 and a 200-day moving average of $24.97.

Franklin Dynamic Municipal Bond ETF Company Profile

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.