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

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 275,366 shares, a growth of 78.7% from the August 15th total of 154,057 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 668,531 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Franklin Dynamic Municipal Bond ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. acquired a new position in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth $42,000. Legacy Wealth Managment LLC ID lifted its position in Franklin Dynamic Municipal Bond ETF by 704.8% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,849 shares of the company’s stock worth $71,000 after buying an additional 2,495 shares in the last quarter. SouthState Bank Corp lifted its position in Franklin Dynamic Municipal Bond ETF by 38.8% during the 4th quarter. SouthState Bank Corp now owns 5,752 shares of the company’s stock worth $143,000 after buying an additional 1,608 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Franklin Dynamic Municipal Bond ETF during the 1st quarter worth about $211,000. Finally, Kennedy Investment Group acquired a new position in shares of Franklin Dynamic Municipal Bond ETF during the 4th quarter worth about $229,000.

Franklin Dynamic Municipal Bond ETF Stock Down 0.0%

Franklin Dynamic Municipal Bond ETF stock traded down $0.01 during midday trading on Wednesday, reaching $23.85. The stock had a trading volume of 1,507,066 shares, compared to its average volume of 772,212. The firm’s fifty day simple moving average is $24.59 and its 200-day simple moving average is $24.84. Franklin Dynamic Municipal Bond ETF has a 1-year low of $23.83 and a 1-year high of $25.46.

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.