Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 52-Week Low – Here’s What Happened
by Scott Moore · The Cerbat GemShares of Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI – Get Free Report) hit a new 52-week low during 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 Trading Down 0.4%
The business’s 50-day simple moving average is $24.62 and its two-hundred day simple moving average is $24.85.
Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Franklin Dynamic Municipal Bond ETF by 99.1% during 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. Waverly Advisors LLC acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF in the second quarter worth $21,022,000. Meeder Advisory Services Inc. boosted its holdings 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 valued at $58,652,000 after purchasing an additional 473,020 shares during the period. Midwest Financial Partners Investments Inc. acquired a new stake in Franklin Dynamic Municipal Bond ETF in the 4th quarter worth $10,981,000. Finally, New England Private Wealth Advisors LLC grew its position in Franklin Dynamic Municipal Bond ETF by 454.6% in the 4th quarter. New England Private Wealth Advisors LLC now owns 525,876 shares of the company’s stock worth $13,079,000 after purchasing an additional 431,051 shares during the last quarter.
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.