Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 52-Week Low – Time to Sell?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $23.78 and last traded at $23.88, with a volume of 1537151 shares. The stock had previously closed at $23.86.

Franklin Dynamic Municipal Bond ETF Price Performance

The stock’s 50-day moving average price is $24.53 and its 200 day moving average price is $24.81.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tortoise Investment Management LLC grew its holdings in shares of Franklin Dynamic Municipal Bond ETF by 11.6% during the 2nd quarter. Tortoise Investment Management LLC now owns 25,000 shares of the company’s stock worth $629,000 after purchasing an additional 2,600 shares during the period. NorthRock Partners LLC purchased a new stake in Franklin Dynamic Municipal Bond ETF in the 2nd quarter valued at about $244,000. RFG Advisory LLC lifted its position in Franklin Dynamic Municipal Bond ETF by 7.8% in the second quarter. RFG Advisory LLC now owns 613,288 shares of the company’s stock valued at $15,436,000 after buying an additional 44,157 shares during the last quarter. NewEdge Advisors LLC lifted its position in Franklin Dynamic Municipal Bond ETF by 29.9% in the second quarter. NewEdge Advisors LLC now owns 369,979 shares of the company’s stock valued at $9,312,000 after buying an additional 85,207 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Franklin Dynamic Municipal Bond ETF by 13.9% during the second quarter. IFP Advisors Inc now owns 25,049 shares of the company’s stock valued at $630,000 after acquiring an additional 3,056 shares during 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.