Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 1-Year Low – Should You Sell?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $24.18 and last traded at $24.1650, with a volume of 103878 shares changing hands. The stock had previously closed at $24.22.

Franklin Dynamic Municipal Bond ETF Stock Performance

The business’s 50-day simple moving average is $24.66 and its 200 day simple moving average is $24.87.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in Franklin Dynamic Municipal Bond ETF during the first quarter valued at about $100,000. Jane Street Group LLC raised its position in 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. Diversify Advisory Services LLC acquired a new stake in Franklin Dynamic Municipal Bond ETF in the 2nd quarter valued at about $1,982,000. Raymond James Financial Inc. lifted its holdings in Franklin Dynamic Municipal Bond ETF by 38.2% in the 2nd quarter. Raymond James Financial Inc. now owns 826,544 shares of the company’s stock valued at $20,052,000 after acquiring an additional 228,569 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Franklin Dynamic Municipal Bond ETF by 41.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,060,685 shares of the company’s stock valued at $25,683,000 after acquiring an additional 309,775 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.