Smart Money Group LLC has made a significant investment by acquiring 24,770 shares of the Franklin Dynamic Municipal Bond ETF (NYSEARCA: FLMI) during the third quarter, according to data from HoldingsChannel.com. The total value of this acquisition is approximately $614,000, reflecting a strategic move by the institutional investor in the current market.
Several other institutional investors have also adjusted their positions in the Franklin Dynamic Municipal Bond ETF recently. Notably, Osaic Holdings Inc. increased its stake by 192.0% in the second quarter, acquiring an additional 252,383 shares to bring its total holdings to 383,845 shares, valued at $9,312,000.
In a similar trend, Commonwealth Equity Services LLC raised its holdings by 27.6% in the third quarter, now owning 206,884 shares worth $5,125,000 after purchasing 44,792 shares during that period. Additionally, Prentice Wealth Management LLC increased its stake by 11.7%, acquiring 21,735 shares for a total of 208,084 shares valued at $5,154,000.
Cliftonlarsonallen Wealth Advisors LLC also boosted its investment by 4.9%, now holding 2,272,212 shares worth $56,283,000 after purchasing another 106,121 shares. Lastly, Assetmark Inc. entered the market with a new stake valued at $60,000 in the second quarter.
Current Performance and Fund Overview
As of Monday, the Franklin Dynamic Municipal Bond ETF opened trading at $25.45. The ETF’s fifty-day moving average price stands at $25.09, with a two-hundred-day moving average of $24.84. Over the past year, the ETF has seen a low of $23.05 and a high of $25.46.
The Franklin Dynamic Municipal Bond ETF, launched on August 31, 2017, is actively managed by Franklin Templeton. The fund primarily invests in municipal bonds across various credit qualities and aims for a dollar-weighted average maturity ranging from three to ten years.
Investors interested in tracking institutional holdings and movements can visit HoldingsChannel.com for the latest 13F filings and insider trades related to the Franklin Dynamic Municipal Bond ETF. Furthermore, MarketBeat.com offers a free daily newsletter summarizing the latest news and analyst ratings for the ETF and related financial products.
