Short Interest in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Decreases By 42.5%

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 129,087 shares, a decrease of 42.5% from the January 29th total of 224,337 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 693,974 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 693,974 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Franklin Dynamic Municipal Bond ETF Stock Performance

Shares of FLMI traded up $0.01 during trading hours on Friday, hitting $25.45. The stock had a trading volume of 627,283 shares, compared to its average volume of 811,320. Franklin Dynamic Municipal Bond ETF has a 1-year low of $23.05 and a 1-year high of $25.46. The firm has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $24.84.

Franklin Dynamic Municipal Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0762 per share. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from Franklin Dynamic Municipal Bond ETF’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%.

Institutional Trading of Franklin Dynamic Municipal Bond ETF

Several hedge funds have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in shares of Franklin Dynamic Municipal Bond ETF during the third quarter worth about $25,000. BOKF NA bought a new stake in shares of Franklin Dynamic Municipal Bond ETF in the third quarter valued at $44,000. Greenline Wealth Management LLC bought a new position in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth about $52,000. Assetmark Inc. purchased a new position in Franklin Dynamic Municipal Bond ETF in the 2nd quarter valued at approximately $60,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Franklin Dynamic Municipal Bond ETF during the 3rd quarter worth about $62,000.

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.