Short Interest in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Increases By 220.3%

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 594,305 shares, an increase of 220.3% from the February 26th total of 185,544 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 787,723 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 787,723 shares, the short-interest ratio is presently 0.8 days. Approximately 0.9% of the shares of the stock are short sold.

Franklin Dynamic Municipal Bond ETF Stock Performance

Shares of NYSEARCA:FLMI traded up $0.06 during trading on Wednesday, hitting $24.70. 424,752 shares of the company’s stock were exchanged, compared to its average volume of 796,747. The business’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $24.95. Franklin Dynamic Municipal Bond ETF has a 52-week low of $23.05 and a 52-week high of $25.46.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

Several institutional investors and hedge funds have recently modified their holdings of FLMI. LPL Financial LLC grew its stake in Franklin Dynamic Municipal Bond ETF by 27.4% during the fourth 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 in the last quarter. Ameriprise Financial Inc. lifted its stake 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 in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Franklin Dynamic Municipal Bond ETF by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock valued at $38,075,000 after purchasing an additional 660,284 shares during the last quarter. Midwest Financial Partners Investments Inc. bought a new position in shares of Franklin Dynamic Municipal Bond ETF during the 4th quarter valued at about $10,981,000. Finally, New England Private Wealth Advisors LLC grew its position in shares of Franklin Dynamic Municipal Bond ETF by 454.6% during the fourth quarter. New England Private Wealth Advisors LLC now owns 525,876 shares of the company’s stock valued at $13,079,000 after purchasing an additional 431,051 shares in the last quarter.

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.