Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Short Interest Up 27.9% in January

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 224,337 shares, a growth of 27.9% from the January 15th total of 175,394 shares. Based on an average daily trading volume, of 923,969 shares, the short-interest ratio is currently 0.2 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 923,969 shares, the short-interest ratio is currently 0.2 days.

Franklin Dynamic Municipal Bond ETF Stock Performance

FLMI stock traded up $0.04 during midday trading on Tuesday, reaching $25.32. The company had a trading volume of 207,340 shares, compared to its average volume of 871,191. The stock has a 50 day moving average price of $24.99 and a 200 day moving average price of $24.76. Franklin Dynamic Municipal Bond ETF has a fifty-two week low of $23.05 and a fifty-two week high of $25.32.

Franklin Dynamic Municipal Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were paid a dividend of $0.0762 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, February 2nd. This is an increase from Franklin Dynamic Municipal Bond ETF’s previous monthly dividend of $0.07.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in shares of Franklin Dynamic Municipal Bond ETF by 27.4% in the 4th quarter. LPL Financial LLC now owns 4,806,634 shares of the company’s stock worth $119,541,000 after acquiring an additional 1,034,603 shares during the period. Ameriprise Financial Inc. grew its position in Franklin Dynamic Municipal Bond ETF by 93.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,048,279 shares of the company’s stock worth $50,767,000 after purchasing an additional 987,594 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 75.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock valued at $38,075,000 after purchasing an additional 660,284 shares during the period. Cetera Investment Advisers increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 227.7% in the second quarter. Cetera Investment Advisers now owns 679,327 shares of the company’s stock valued at $16,480,000 after purchasing an additional 472,025 shares during the period. Finally, Midwest Financial Partners Investments Inc. bought a new stake in shares of Franklin Dynamic Municipal Bond ETF during the fourth quarter valued at approximately $10,981,000.

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.