Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sees Large Growth in Short Interest

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 135,159 shares, an increase of 318.1% from the April 30th total of 32,324 shares. Based on an average trading volume of 694,168 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of Franklin Dynamic Municipal Bond ETF by 27.4% in the 4th quarter. LPL Financial LLC now owns 4,806,634 shares of the company’s stock valued at $119,541,000 after acquiring an additional 1,034,603 shares during the period. Bank of America Corp DE increased its position in shares of Franklin Dynamic Municipal Bond ETF by 99.1% in the 1st 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 during the period. Cliftonlarsonallen Wealth Advisors LLC grew its position in Franklin Dynamic Municipal Bond ETF by 4.1% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 2,366,025 shares of the company’s stock worth $58,843,000 after purchasing an additional 93,813 shares during the period. Meeder Advisory Services Inc. grew its position in Franklin Dynamic Municipal Bond ETF by 25.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,365,948 shares of the company’s stock worth $58,652,000 after purchasing an additional 473,020 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Franklin Dynamic Municipal Bond ETF by 93.1% during 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.

Franklin Dynamic Municipal Bond ETF Price Performance

NYSEARCA FLMI opened at $25.02 on Friday. The stock’s fifty day moving average price is $24.88 and its 200 day moving average price is $24.97. Franklin Dynamic Municipal Bond ETF has a 1 year low of $23.94 and a 1 year high of $25.46.

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.