Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Stock Short Interest Rises 58.2%

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 435,765 shares, an increase of 58.2% from the August 31st total of 275,366 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 1,235,501 shares, the days-to-cover ratio is currently 0.4 days.

Franklin Dynamic Municipal Bond ETF Trading Up 0.8%

Franklin Dynamic Municipal Bond ETF stock traded up $0.19 during midday trading on Wednesday, hitting $23.32. The stock had a trading volume of 4,082,758 shares, compared to its average volume of 831,270. The firm’s fifty day moving average is $24.33 and its two-hundred day moving average is $24.73. Franklin Dynamic Municipal Bond ETF has a 52-week low of $23.10 and a 52-week high of $25.46.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of Franklin Dynamic Municipal Bond ETF by 8.1% in the second quarter. Baird Financial Group Inc. now owns 11,895 shares of the company’s stock worth $299,000 after purchasing an additional 895 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Franklin Dynamic Municipal Bond ETF by 6.2% during the 1st quarter. International Assets Investment Management LLC now owns 15,400 shares of the company’s stock valued at $381,000 after buying an additional 900 shares in the last quarter. Leeward Financial Partners LLC boosted its holdings in Franklin Dynamic Municipal Bond ETF by 1.0% in the 1st quarter. Leeward Financial Partners LLC now owns 92,752 shares of the company’s stock worth $2,299,000 after buying an additional 918 shares during the period. SouthState Bank Corp boosted its holdings in Franklin Dynamic Municipal Bond ETF by 38.8% in the 4th quarter. SouthState Bank Corp now owns 5,752 shares of the company’s stock worth $143,000 after buying an additional 1,608 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Franklin Dynamic Municipal Bond ETF in the 4th quarter worth $42,000.

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.