Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sees Large Decline in Short Interest

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 20,806 shares, a drop of 27.9% from the December 15th total of 28,867 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 511,385 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 511,385 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC boosted its holdings in Franklin Dynamic Municipal Bond ETF by 264.0% in the 4th quarter. Perigon Wealth Management LLC now owns 45,500 shares of the company’s stock worth $1,132,000 after acquiring an additional 33,000 shares during the period. Verus Wealth Management LLC purchased a new position in Franklin Dynamic Municipal Bond ETF in the 4th quarter valued at about $216,000. Embree Financial Group grew its stake in shares of Franklin Dynamic Municipal Bond ETF by 53.8% during the fourth quarter. Embree Financial Group now owns 51,979 shares of the company’s stock valued at $1,293,000 after acquiring an additional 18,192 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of Franklin Dynamic Municipal Bond ETF by 10.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 68,513 shares of the company’s stock worth $1,704,000 after acquiring an additional 6,741 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the fourth quarter worth about $739,000.

Franklin Dynamic Municipal Bond ETF Price Performance

Shares of NYSEARCA:FLMI remained flat at $25.05 during midday trading on Friday. The stock had a trading volume of 549,341 shares, compared to its average volume of 1,018,295. Franklin Dynamic Municipal Bond ETF has a fifty-two week low of $23.05 and a fifty-two week high of $25.08. The firm has a fifty day simple moving average of $24.90 and a 200 day simple moving average of $24.61.

About Franklin Dynamic Municipal Bond ETF

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.