Franklin Dynamic Municipal Bond ETF $FLMI Shares Bought by Penney Financial LLC

Penney Financial LLC grew its position in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) by 12.5% in the first quarter, HoldingsChannel.com reports. The fund owned 293,015 shares of the company’s stock after buying an additional 32,573 shares during the quarter. Franklin Dynamic Municipal Bond ETF comprises 2.8% of Penney Financial LLC’s portfolio, making the stock its 9th biggest position. Penney Financial LLC’s holdings in Franklin Dynamic Municipal Bond ETF were worth $7,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP bought a new position in shares of Franklin Dynamic Municipal Bond ETF in the third quarter valued at about $25,000. Rockefeller Capital Management L.P. bought a new stake in Franklin Dynamic Municipal Bond ETF during the 4th quarter worth about $42,000. BOKF NA acquired a new stake in Franklin Dynamic Municipal Bond ETF in the 3rd quarter valued at about $44,000. Greenline Wealth Management LLC acquired a new stake in Franklin Dynamic Municipal Bond ETF in the 4th quarter valued at about $52,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Franklin Dynamic Municipal Bond ETF in the third quarter worth about $62,000.

Franklin Dynamic Municipal Bond ETF Stock Performance

Shares of FLMI stock opened at $25.13 on Monday. Franklin Dynamic Municipal Bond ETF has a 1 year low of $23.94 and a 1 year high of $25.46. The firm’s 50 day moving average is $24.98 and its 200-day moving average is $25.00.

Franklin Dynamic Municipal Bond ETF 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.