Essex Financial Services Inc. Buys New Stake in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)

Essex Financial Services Inc. bought a new stake in shares of Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,920 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC lifted its position in Franklin Dynamic Municipal Bond ETF by 76.5% during the third quarter. LPL Financial LLC now owns 553,113 shares of the company’s stock worth $12,694,000 after buying an additional 239,775 shares during the period. Central Bank & Trust Co. grew its holdings in Franklin Dynamic Municipal Bond ETF by 66.0% in the fourth quarter. Central Bank & Trust Co. now owns 297,405 shares of the company’s stock valued at $7,212,000 after purchasing an additional 118,200 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth approximately $1,731,000. Raymond James & Associates acquired a new position in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth approximately $1,156,000. Finally, Atlas Private Wealth Management purchased a new position in Franklin Dynamic Municipal Bond ETF during the fourth quarter worth approximately $1,129,000.

Franklin Dynamic Municipal Bond ETF Price Performance

Shares of NYSEARCA FLMI opened at $24.21 on Friday. The firm has a fifty day moving average of $24.29 and a 200-day moving average of $23.94. Franklin Dynamic Municipal Bond ETF has a 52-week low of $22.50 and a 52-week high of $25.94.

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.