Franklin Municipal Green Bond ETF (NYSEARCA:FLMB) Sees Large Drop in Short Interest

Franklin Municipal Green Bond ETF (NYSEARCA:FLMB) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 5,738 shares, a decline of 46.9% from the June 15th total of 10,804 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 7,246 shares, the days-to-cover ratio is currently 0.8 days.

Franklin Municipal Green Bond ETF Trading Down 0.2%

Shares of NYSEARCA FLMB traded down $0.05 during trading hours on Thursday, hitting $23.74. The company had a trading volume of 1,653 shares, compared to its average volume of 15,900. Franklin Municipal Green Bond ETF has a 1-year low of $22.60 and a 1-year high of $24.29. The firm’s 50 day moving average is $23.86 and its 200-day moving average is $23.88.

Hedge Funds Weigh In On Franklin Municipal Green Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in Franklin Municipal Green Bond ETF during the 4th quarter worth approximately $63,000. Flagship Harbor Advisors LLC acquired a new position in Franklin Municipal Green Bond ETF in the 4th quarter valued at $79,000. Western Wealth Management LLC bought a new position in Franklin Municipal Green Bond ETF during the 1st quarter worth $110,000. Raymond James Financial Inc. bought a new position in Franklin Municipal Green Bond ETF during the 2nd quarter worth $115,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Franklin Municipal Green Bond ETF by 1,701.0% during the first quarter. PNC Financial Services Group Inc. now owns 5,295 shares of the company’s stock worth $125,000 after buying an additional 5,001 shares in the last quarter.

About Franklin Municipal Green Bond ETF

The Franklin Municipal Green Bond ETF (FLMB) is an exchange-traded fund that is based on the Bloomberg Municipal Managed Money index. The fund is an actively managed fund that invests primarily in investment-grade municipal bonds, with a broad range in maturities, that intend to finance projects promoting environmental sustainability. FLMB was launched on Aug 31, 2017 and is managed by Franklin Templeton.