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

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

Franklin Dynamic Municipal Bond ETF Stock Performance

The firm’s fifty day moving average price is $24.19 and its 200 day moving average price is $24.67.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 99.1% in the first quarter. Bank of America Corp DE now owns 2,703,252 shares of the company’s stock worth $67,014,000 after purchasing an additional 1,345,211 shares during the period. Waverly Advisors LLC bought a new stake in Franklin Dynamic Municipal Bond ETF during the 2nd quarter valued at approximately $21,022,000. Meeder Advisory Services Inc. grew its holdings in Franklin Dynamic Municipal Bond ETF by 25.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,365,948 shares of the company’s stock valued at $58,652,000 after buying an additional 473,020 shares during the last quarter. New England Private Wealth Advisors LLC increased its position in Franklin Dynamic Municipal Bond ETF by 454.6% in the 4th quarter. New England Private Wealth Advisors LLC now owns 525,876 shares of the company’s stock worth $13,079,000 after buying an additional 431,051 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Franklin Dynamic Municipal Bond ETF by 23.6% during the first quarter. Cetera Investment Advisers now owns 1,446,903 shares of the company’s stock worth $35,869,000 after buying an additional 275,864 shares during the last quarter.

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.