Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Reaches New 52-Week Low – Should You Sell?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $24.18 and last traded at $24.1650, with a volume of 103878 shares changing hands. The stock had previously closed at $24.22.

Franklin Dynamic Municipal Bond ETF Stock Down 0.4%

The stock’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $24.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Franklin Dynamic Municipal Bond ETF by 99.1% during the 1st 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 last quarter. LPL Financial LLC lifted its stake 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 buying an additional 1,034,603 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in 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 during the last quarter. Waverly Advisors LLC acquired a new position in shares of Franklin Dynamic Municipal Bond ETF during the second quarter valued at $21,022,000. Finally, Wells Fargo & Company MN grew its position in shares of Franklin Dynamic Municipal Bond ETF by 75.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock worth $38,075,000 after acquiring an additional 660,284 shares during the last quarter.

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.