Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 12-Month High – Time to Buy?

Shares of Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.35 and last traded at $25.34, with a volume of 535600 shares. The stock had previously closed at $25.33.

Franklin Dynamic Municipal Bond ETF Stock Up 0.1%

The business’s fifty day moving average is $25.05 and its two-hundred day moving average is $24.82.

Franklin Dynamic Municipal Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0762 per share. 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. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in Franklin Dynamic Municipal Bond ETF by 192.0% in the second quarter. Osaic Holdings Inc. now owns 383,845 shares of the company’s stock valued at $9,312,000 after acquiring an additional 252,383 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Franklin Dynamic Municipal Bond ETF by 27.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 206,884 shares of the company’s stock valued at $5,125,000 after acquiring an additional 44,792 shares during the last quarter. Prentice Wealth Management LLC lifted its stake in shares of Franklin Dynamic Municipal Bond ETF by 11.7% in the 3rd quarter. Prentice Wealth Management LLC now owns 208,084 shares of the company’s stock valued at $5,154,000 after purchasing an additional 21,735 shares during the period. Cliftonlarsonallen Wealth Advisors LLC boosted its position in shares of Franklin Dynamic Municipal Bond ETF by 4.9% in the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 2,272,212 shares of the company’s stock worth $56,283,000 after purchasing an additional 106,121 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Franklin Dynamic Municipal Bond ETF in the 2nd quarter worth $60,000.

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.