Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Hits New 52-Week Low – Here’s What Happened

Shares of Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.86 and last traded at $23.8540, with a volume of 937808 shares. The stock had previously closed at $23.94.

Franklin Dynamic Municipal Bond ETF Price Performance

The firm’s 50 day simple moving average is $24.57 and its two-hundred day simple moving average is $24.83.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its position in shares of Franklin Dynamic Municipal Bond ETF by 395.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 73,100 shares of the company’s stock worth $1,812,000 after acquiring an additional 58,340 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 201.2% in the 4th quarter. HighTower Advisors LLC now owns 102,173 shares of the company’s stock worth $2,541,000 after acquiring an additional 68,249 shares in the last quarter. WCG Wealth Advisors LLC bought a new stake in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth about $632,000. Midwest Financial Partners Investments Inc. purchased a new position in shares of Franklin Dynamic Municipal Bond ETF in the 4th quarter worth about $10,981,000. Finally, Penney Financial LLC lifted its stake in shares of Franklin Dynamic Municipal Bond ETF by 12.5% in the first quarter. Penney Financial LLC now owns 293,015 shares of the company’s stock worth $7,264,000 after buying an additional 32,573 shares in the last quarter.

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.