Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 1-Year High – Here’s Why

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.32 and last traded at $25.3150, with a volume of 197464 shares traded. The stock had previously closed at $25.28.

Franklin Dynamic Municipal Bond ETF Trading Up 0.2%

The company has a fifty day moving average price of $24.99 and a two-hundred day moving average price of $24.76.

Franklin Dynamic Municipal Bond ETF Increases Dividend

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

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently bought and sold shares of the business. LPL Financial LLC raised its stake in Franklin Dynamic Municipal Bond ETF by 27.4% in the fourth quarter. LPL Financial LLC now owns 4,806,634 shares of the company’s stock valued at $119,541,000 after purchasing an additional 1,034,603 shares in the last quarter. Ameriprise Financial Inc. raised its position in Franklin Dynamic Municipal Bond ETF by 93.1% during the third quarter. Ameriprise Financial Inc. now owns 2,048,279 shares of the company’s stock valued at $50,767,000 after purchasing an additional 987,594 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Franklin Dynamic Municipal Bond ETF by 75.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,530,968 shares of the company’s stock worth $38,075,000 after purchasing an additional 660,284 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 227.7% in the 2nd 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 last quarter. Finally, Midwest Financial Partners Investments Inc. bought a new stake in shares of Franklin Dynamic Municipal Bond ETF during the 4th quarter worth $10,981,000.

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.