Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Short Interest Up 220.3% in March

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 594,305 shares, a growth of 220.3% from the February 26th total of 185,544 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 787,723 shares, the days-to-cover ratio is presently 0.8 days.

Franklin Dynamic Municipal Bond ETF Price Performance

FLMI traded down $0.02 during trading on Friday, reaching $24.65. 421,065 shares of the company’s stock were exchanged, compared to its average volume of 788,337. The company’s fifty day moving average price is $25.11 and its 200-day moving average price is $24.94. Franklin Dynamic Municipal Bond ETF has a fifty-two week low of $23.05 and a fifty-two week high of $25.46.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new stake in Franklin Dynamic Municipal Bond ETF during the 1st quarter worth $100,000. Jane Street Group LLC increased its holdings in shares of Franklin Dynamic Municipal Bond ETF by 37.2% in the first quarter. Jane Street Group LLC now owns 45,280 shares of the company’s stock worth $1,107,000 after acquiring an additional 12,284 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Franklin Dynamic Municipal Bond ETF by 58.7% during the second quarter. PNC Financial Services Group Inc. now owns 14,637 shares of the company’s stock worth $355,000 after purchasing an additional 5,412 shares during the period. Franklin Resources Inc. raised its position in shares of Franklin Dynamic Municipal Bond ETF by 135.2% during the second quarter. Franklin Resources Inc. now owns 43,795 shares of the company’s stock worth $1,062,000 after purchasing an additional 25,174 shares during the period. Finally, Global Retirement Partners LLC bought a new position in shares of Franklin Dynamic Municipal Bond ETF during the 2nd quarter valued at about $823,000.

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.