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

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $25.14 and last traded at $25.1150, with a volume of 1075770 shares traded. The stock had previously closed at $25.08.

Franklin Dynamic Municipal Bond ETF Stock Down 0.2%

The business’s 50 day moving average is $24.93 and its two-hundred day moving average is $24.67.

Franklin Dynamic Municipal Bond ETF Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its stake in Franklin Dynamic Municipal Bond ETF by 192.0% during the 2nd quarter. Osaic Holdings Inc. now owns 383,845 shares of the company’s stock valued at $9,312,000 after purchasing an additional 252,383 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Franklin Dynamic Municipal Bond ETF by 27.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 206,884 shares of the company’s stock worth $5,125,000 after acquiring an additional 44,792 shares during the last quarter. Prentice Wealth Management LLC lifted its position in Franklin Dynamic Municipal Bond ETF by 11.7% in the 3rd quarter. Prentice Wealth Management LLC now owns 208,084 shares of the company’s stock valued at $5,154,000 after acquiring an additional 21,735 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC raised its stake in shares of Franklin Dynamic Municipal Bond ETF by 4.9% in the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 2,272,212 shares of the company’s stock worth $56,283,000 after buying an additional 106,121 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Franklin Dynamic Municipal Bond ETF by 20.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 65,657 shares of the company’s stock valued at $1,593,000 after buying an additional 11,078 shares in the last quarter.

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.