Smart Money Group LLC has made a significant investment in the Franklin Dynamic Municipal Bond ETF (NYSEARCA:FLMI), acquiring 24,770 shares valued at approximately $614,000. This move, reported by HoldingsChannel.com, occurred in the third quarter of 2023, reflecting a growing interest in municipal bond investments among institutional investors.
Several other firms have also adjusted their holdings in FLMI. Notably, Osaic Holdings Inc. increased its position by an impressive 192.0% during the second quarter, now owning 383,845 shares worth $9.3 million after acquiring an additional 252,383 shares. Commonwealth Equity Services LLC also expanded its stake by 27.6% in the third quarter, bringing its total to 206,884 shares valued at $5.1 million.
Prentice Wealth Management LLC raised its holdings by 11.7%, now possessing 208,084 shares valued at $5.15 million, following a purchase of 21,735 shares. Additionally, Cliftonlarsonallen Wealth Advisors LLC increased its holdings by 4.9%, owning 2,272,212 shares now worth $56.3 million after a purchase of 106,121 shares. Assetmark Inc. also acquired a new stake during the second quarter, valued at $60,000.
Current Performance and Dividend Updates
As of the latest trading session, the Franklin Dynamic Municipal Bond ETF opened at $25.45. The fund’s fifty-day moving average stands at $25.09, while the two-hundred-day moving average is $24.84. Over the past year, the ETF has experienced a low of $23.05 and a high of $25.46.
In addition to these investments, the Franklin Dynamic Municipal Bond ETF recently adjusted its dividend strategy. The fund primarily invests in broad credit fixed income and is actively managed, focusing on municipal bonds across various credit qualities. The portfolio manager seeks a dollar-weighted average maturity of three to ten years. Launched on August 31, 2017, FLMI is managed by Franklin Templeton, a well-respected name in the financial industry.
For those interested in tracking the latest developments regarding FLMI, HoldingsChannel.com provides ongoing updates on institutional holdings and insider trades, helping investors stay informed about this actively managed fund and its market movements.
