Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Sees Large Increase in Short Interest

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 191,059 shares, an increase of 107.9% from the June 30th total of 91,914 shares. Based on an average daily volume of 605,670 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Trading of Franklin Dynamic Municipal Bond ETF

Several hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of Franklin Dynamic Municipal Bond ETF by 0.8% during the fourth quarter. Global Retirement Partners LLC now owns 55,692 shares of the company’s stock valued at $1,385,000 after acquiring an additional 427 shares during the period. Members Advisory Group LLC increased its position in Franklin Dynamic Municipal Bond ETF by 3.1% in the fourth quarter. Members Advisory Group LLC now owns 15,808 shares of the company’s stock worth $393,000 after purchasing an additional 473 shares during the period. Bowman & Co S.C. increased its position in Franklin Dynamic Municipal Bond ETF by 1.3% in the fourth quarter. Bowman & Co S.C. now owns 56,819 shares of the company’s stock worth $1,413,000 after purchasing an additional 704 shares during the period. J.W. Cole Advisors Inc. increased its position in Franklin Dynamic Municipal Bond ETF by 5.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 16,938 shares of the company’s stock worth $421,000 after purchasing an additional 829 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in Franklin Dynamic Municipal Bond ETF by 2.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 34,220 shares of the company’s stock worth $851,000 after purchasing an additional 891 shares during the last quarter.

Franklin Dynamic Municipal Bond ETF Trading Down 0.2%

Shares of Franklin Dynamic Municipal Bond ETF stock opened at $24.66 on Friday. Franklin Dynamic Municipal Bond ETF has a 12-month low of $24.01 and a 12-month high of $25.46. The company has a 50-day simple moving average of $24.97 and a 200 day simple moving average of $25.00.

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.