Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Shares Shorted: Short Interest Down 68.1% in October

Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) saw a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 323,370 shares, a decline of 68.1% from the October 15th total of 1,015,243 shares. Based on an average trading volume of 1,601,945 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are sold short.

Franklin Dynamic Municipal Bond ETF Stock Down 0.4%

Shares of FLMI stock traded down $0.09 during trading on Friday, reaching $24.05. 790,192 shares of the company’s stock were exchanged, compared to its average volume of 983,982. Franklin Dynamic Municipal Bond ETF has a twelve month low of $23.04 and a twelve month high of $25.46. The firm’s fifty day moving average price is $23.79 and its 200-day moving average price is $24.65.

Hedge Funds Weigh In On 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 bought a new position in Franklin Dynamic Municipal Bond ETF during the third quarter worth $25,000. Legacy Wealth Managment LLC ID raised its position in shares of Franklin Dynamic Municipal Bond ETF by 704.8% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,849 shares of the company’s stock valued at $71,000 after purchasing an additional 2,495 shares during the period. Signature Equity Partners LLC raised its position in shares of Franklin Dynamic Municipal Bond ETF by 323.5% in the third quarter. Signature Equity Partners LLC now owns 2,969 shares of the company’s stock valued at $69,000 after purchasing an additional 2,268 shares during the period. Triumph Capital Management acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF during the 3rd quarter worth about $82,000. Finally, Jacobi Capital Management LLC acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF during the 3rd quarter worth about $114,000.

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.