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

by · The Markets Daily

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI – Get Free Report) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 85,418 shares, a decline of 34.5% from the May 31st total of 130,359 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 913,373 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of 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 worth $67,014,000 after purchasing an additional 1,345,211 shares during the period. LPL Financial LLC boosted 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 purchasing an additional 1,034,603 shares during the period. Ameriprise Financial Inc. boosted its position in shares of 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 valued at $50,767,000 after purchasing an additional 987,594 shares during the period. Wells Fargo & Company MN boosted its position in shares of 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 valued at $38,075,000 after purchasing an additional 660,284 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in Franklin Dynamic Municipal Bond ETF by 25.0% in 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 in the last quarter.

Franklin Dynamic Municipal Bond ETF Price Performance

Shares of NYSEARCA FLMI remained flat at $25.11 during midday trading on Friday. 767,666 shares of the company were exchanged, compared to its average volume of 776,177. Franklin Dynamic Municipal Bond ETF has a twelve month low of $23.94 and a twelve month high of $25.46. The stock has a 50 day moving average price of $24.99 and a 200 day moving average price of $25.00.

Franklin Dynamic Municipal Bond ETF Company Profile

(Get Free Report)

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.

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