Franklin New Jersey Municipal Income ETF
FTNJ
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- Franklin New Jersey Municipal Income ETF (FTNJ) is an exchange-traded fund managed by Franklin Templeton that seeks high current income exempt from federal income tax and New Jersey personal income tax, consistent with capital preservation. The fund invests at least 80% of its net assets in investment-grade New Jersey municipal bonds, including general obligation bonds, revenue bonds, and tender option bonds with intermediate- to long-term maturities of three years or longer; its portfolio emphasizes high credit quality securities across sectors such as transportation (20.06%), education (18.61%), lease revenue (13.82%), local government (12.46%), health care (7.26%), housing (6.34%), and special tax (6.12%). It benchmarks against the Bloomberg Municipal Bond Index, distributes income monthly, and trades on the NYSE Arca exchange with approximately 15.95 million shares outstanding as of late 2025. Launched in 2024 as part of Franklin Templeton's ETF offerings under Putnam ETF Trust, FTNJ builds on the firm's legacy in municipal bond management dating back to the related Franklin New Jersey Tax Free Income Fund (inception 1990), providing New Jersey residents with tax-advantaged income from a diversified portfolio of state-specific munis. The fund targets individual and institutional investors seeking tax-efficient fixed income, particularly high-net-worth New Jersey residents; operations are U.S.-focused with a concentration in New Jersey municipal issuers. Recent developments include sustained portfolio rebalancing as of October 31, 2025, maintaining strong sector allocations amid stable market conditions, alongside consistent monthly dividend distributions supporting a distribution rate at NAV. No major acquisitions, funding rounds, or strategic alliances have been announced in the past 1-2 years; Franklin Templeton continues leveraging its position as one of the largest active muni bond managers to navigate market cycles. Shares traded around $8.75-$8.76 in late 2025, reflecting a market capitalization of approximately $139-140 million.