Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Reaches New 52-Week High – Still a Buy?

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.17 and last traded at $25.1650, with a volume of 745419 shares. The stock had previously closed at $25.14.

Franklin Dynamic Municipal Bond ETF Stock Performance

The stock has a fifty day simple moving average of $24.96 and a 200-day simple moving average of $24.73.

Franklin Dynamic Municipal Bond ETF Increases Dividend

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

Institutional Trading of Franklin Dynamic Municipal Bond ETF

Several hedge funds have recently modified their holdings of FLMI. Allworth Financial LP bought a new position in shares of Franklin Dynamic Municipal Bond ETF in the third quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new position in Franklin Dynamic Municipal Bond ETF in the second quarter worth $30,000. BOKF NA bought a new stake in shares of Franklin Dynamic Municipal Bond ETF during the third quarter worth $44,000. Assetmark Inc. acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF in the second quarter valued at $60,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Franklin Dynamic Municipal Bond ETF in the third quarter valued at about $62,000.

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.