Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI) Short Interest Up 318.1% in May

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

Franklin Dynamic Municipal Bond ETF Stock Up 0.2%

Shares of FLMI traded up $0.05 during midday trading on Friday, reaching $25.07. 598,587 shares of the stock were exchanged, compared to its average volume of 759,487. Franklin Dynamic Municipal Bond ETF has a twelve month low of $23.94 and a twelve month high of $25.46. The stock’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $24.97.

Institutional Investors Weigh In On Franklin Dynamic Municipal Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FLMI. NewEdge Advisors LLC acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF in the first quarter valued at approximately $100,000. Jane Street Group LLC raised its position in shares of Franklin Dynamic Municipal Bond ETF by 37.2% in the first quarter. Jane Street Group LLC now owns 45,280 shares of the company’s stock valued at $1,107,000 after buying an additional 12,284 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Franklin Dynamic Municipal Bond ETF in the second quarter valued at approximately $1,982,000. Raymond James Financial Inc. raised its position in shares of Franklin Dynamic Municipal Bond ETF by 38.2% in the second quarter. Raymond James Financial Inc. now owns 826,544 shares of the company’s stock valued at $20,052,000 after buying an additional 228,569 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Franklin Dynamic Municipal Bond ETF by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 1,060,685 shares of the company’s stock valued at $25,683,000 after buying an additional 309,775 shares in the last quarter.

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.