Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Short Interest Down 42.8% in July

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 109,335 shares, a decrease of 42.8% from the July 15th total of 191,059 shares. Based on an average trading volume of 632,164 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of Franklin Dynamic Municipal Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLMI. Allworth Financial LP purchased a new position in shares of Franklin Dynamic Municipal Bond ETF in the 3rd quarter valued at $25,000. Rockefeller Capital Management L.P. purchased a new stake in Franklin Dynamic Municipal Bond ETF in the fourth quarter valued at $42,000. BOKF NA acquired a new position in Franklin Dynamic Municipal Bond ETF in the third quarter valued at $44,000. Greenline Wealth Management LLC acquired a new position in Franklin Dynamic Municipal Bond ETF in the fourth quarter valued at $52,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Franklin Dynamic Municipal Bond ETF during the third quarter worth about $62,000.

Franklin Dynamic Municipal Bond ETF Price Performance

Shares of NYSEARCA FLMI traded down $0.03 during midday trading on Monday, hitting $24.70. 147,074 shares of the company’s stock were exchanged, compared to its average volume of 741,059. The firm’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $24.98. Franklin Dynamic Municipal Bond ETF has a twelve month low of $24.05 and a twelve month high of $25.46.

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.