Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sets New 12-Month Low – Here’s Why

Shares of Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $23.04 and last traded at $23.1450, with a volume of 95001 shares. The stock had previously closed at $23.27.

Franklin Dynamic Municipal Bond ETF Stock Down 0.3%

The firm’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $24.67.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLMI. Bank of America Corp DE lifted its position in shares of Franklin Dynamic Municipal Bond ETF by 99.1% in the 1st quarter. Bank of America Corp DE now owns 2,703,252 shares of the company’s stock worth $67,014,000 after acquiring an additional 1,345,211 shares during the period. Waverly Advisors LLC bought a new stake in shares of Franklin Dynamic Municipal Bond ETF during the second quarter valued at approximately $21,022,000. Meeder Advisory Services Inc. raised its stake in shares of Franklin Dynamic Municipal Bond ETF by 25.0% in the first quarter. Meeder Advisory Services Inc. now owns 2,365,948 shares of the company’s stock valued at $58,652,000 after purchasing an additional 473,020 shares in the last quarter. New England Private Wealth Advisors LLC raised its stake in shares of Franklin Dynamic Municipal Bond ETF by 454.6% in the fourth quarter. New England Private Wealth Advisors LLC now owns 525,876 shares of the company’s stock valued at $13,079,000 after purchasing an additional 431,051 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Franklin Dynamic Municipal Bond ETF by 23.6% in the first quarter. Cetera Investment Advisers now owns 1,446,903 shares of the company’s stock worth $35,869,000 after purchasing an additional 275,864 shares during the period.

Franklin Dynamic Municipal Bond ETF Company 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.