Short Interest in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Decreases By 34.5%

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 85,418 shares, a decrease of 34.5% from the May 31st total of 130,359 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 913,373 shares, the short-interest ratio is currently 0.1 days.

Franklin Dynamic Municipal Bond ETF Price Performance

Shares of Franklin Dynamic Municipal Bond ETF stock opened at $25.11 on Friday. The firm has a fifty day moving average price of $24.99 and a 200 day moving average price of $25.01. Franklin Dynamic Municipal Bond ETF has a 1 year low of $23.94 and a 1 year high of $25.46.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in shares of Franklin Dynamic Municipal Bond ETF by 25.8% in the first quarter. NewEdge Advisors LLC now owns 284,772 shares of the company’s stock worth $7,060,000 after buying an additional 58,394 shares during the last quarter. Bank of America Corp DE raised its position in Franklin Dynamic Municipal Bond ETF by 99.1% during the first quarter. Bank of America Corp DE now owns 2,703,252 shares of the company’s stock valued at $67,014,000 after acquiring an additional 1,345,211 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Franklin Dynamic Municipal Bond ETF during the first quarter valued at approximately $211,000. Royal Bank of Canada lifted its holdings in Franklin Dynamic Municipal Bond ETF by 114.1% in the first quarter. Royal Bank of Canada now owns 91,213 shares of the company’s stock valued at $2,262,000 after acquiring an additional 48,604 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in Franklin Dynamic Municipal Bond ETF in the first quarter valued at approximately $277,000.

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.