Short Interest in Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Grows By 318.1%

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 135,159 shares, an increase of 318.1% from the April 30th total of 32,324 shares. Based on an average trading volume of 694,168 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Franklin Dynamic Municipal Bond ETF Stock Performance

FLMI opened at $25.02 on Friday. Franklin Dynamic Municipal Bond ETF has a 52-week low of $23.94 and a 52-week high of $25.46. The firm’s 50-day moving average price is $24.88 and its 200-day moving average price is $24.97.

Hedge Funds Weigh In On Franklin Dynamic Municipal Bond ETF

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the 3rd quarter valued at $25,000. Rockefeller Capital Management L.P. acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the 4th quarter valued at $42,000. BOKF NA acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the 3rd quarter valued at $44,000. Greenline Wealth Management LLC acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the 4th quarter valued at $52,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Franklin Dynamic Municipal Bond ETF in the 3rd quarter valued at $62,000.

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.