Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Hits New 1-Year Low – Time to Sell?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) shares 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 changing hands. The stock had previously closed at $23.94.

Franklin Dynamic Municipal Bond ETF Stock Down 0.4%

The stock has a 50-day simple moving average of $24.62 and a 200 day simple moving average of $24.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in 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 buying an additional 1,345,211 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of 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 acquiring an additional 473,020 shares during the period. Cetera Investment Advisers boosted its position in shares of Franklin Dynamic Municipal Bond ETF by 23.6% during the 1st quarter. Cetera Investment Advisers now owns 1,446,903 shares of the company’s stock valued at $35,869,000 after acquiring an additional 275,864 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF during the 2nd quarter valued at about $21,022,000. Finally, Sanctuary Advisors LLC increased its stake in Franklin Dynamic Municipal Bond ETF by 16.9% in the first quarter. Sanctuary Advisors LLC now owns 783,830 shares of the company’s stock valued at $19,431,000 after acquiring an additional 113,491 shares during the period.

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.