Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 52-Week High – Here’s Why

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) shares hit a new 52-week high on Tuesday . The company traded as high as $25.32 and last traded at $25.3150, with a volume of 197464 shares. The stock had previously closed at $25.28.

Franklin Dynamic Municipal Bond ETF Trading Up 0.1%

The stock’s fifty day moving average price is $25.02 and its 200 day moving average price is $24.78.

Franklin Dynamic Municipal Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were issued a $0.0762 dividend. 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 yield of 3.6%. The ex-dividend date of this dividend was Monday, February 2nd.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Several institutional investors have recently made changes to their positions in FLMI. LPL Financial LLC boosted its stake in shares of Franklin Dynamic Municipal Bond ETF by 27.4% during the 4th quarter. LPL Financial LLC now owns 4,806,634 shares of the company’s stock worth $119,541,000 after acquiring an additional 1,034,603 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Franklin Dynamic Municipal Bond ETF by 93.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,048,279 shares of the company’s stock worth $50,767,000 after purchasing an additional 987,594 shares during the period. Wells Fargo & Company MN raised its holdings in Franklin Dynamic Municipal Bond ETF by 75.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock worth $38,075,000 after purchasing an additional 660,284 shares during the period. Cetera Investment Advisers lifted its position in Franklin Dynamic Municipal Bond ETF by 227.7% during the second quarter. Cetera Investment Advisers now owns 679,327 shares of the company’s stock valued at $16,480,000 after purchasing an additional 472,025 shares in the last quarter. Finally, Midwest Financial Partners Investments Inc. bought a new stake in Franklin Dynamic Municipal Bond ETF during the fourth quarter valued at about $10,981,000.

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.