Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Hits New 12-Month High – What’s Next?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.35 and last traded at $25.34, with a volume of 535600 shares trading hands. The stock had previously closed at $25.33.

Franklin Dynamic Municipal Bond ETF Stock Performance

The business’s 50 day simple moving average is $25.03 and its two-hundred day simple moving average is $24.80.

Franklin Dynamic Municipal Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0762 per share. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, February 2nd. This is an increase from Franklin Dynamic Municipal Bond ETF’s previous monthly dividend of $0.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC lifted its position 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 purchasing an additional 1,034,603 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Franklin Dynamic Municipal Bond ETF by 93.1% in the third quarter. Ameriprise Financial Inc. now owns 2,048,279 shares of the company’s stock worth $50,767,000 after buying an additional 987,594 shares during the period. Wells Fargo & Company MN lifted its position 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 buying an additional 660,284 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Franklin Dynamic Municipal Bond ETF by 227.7% during the 2nd quarter. Cetera Investment Advisers now owns 679,327 shares of the company’s stock valued at $16,480,000 after buying an additional 472,025 shares in the last quarter. Finally, Midwest Financial Partners Investments Inc. bought a new position in shares of Franklin Dynamic Municipal Bond ETF during the 4th quarter valued at approximately $10,981,000.

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.