AB California Intermediate Municipal ETF (NYSEARCA:CAM) Hits New 52-Week Low – Should You Sell?

AB California Intermediate Municipal ETF (NYSEARCA:CAM)’s share price reached a new 52-week low on Tuesday . The company traded as low as $24.41 and last traded at $24.4150, with a volume of 45715 shares trading hands. The stock had previously closed at $24.48.

AB California Intermediate Municipal ETF Stock Performance

The firm’s fifty day moving average is $24.81 and its 200 day moving average is $24.98. The firm has a market cap of $1.19 billion, a P/E ratio of 7.57 and a beta of -0.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CAM. Fifth Third Bancorp bought a new stake in shares of AB California Intermediate Municipal ETF during the 1st quarter worth approximately $1,486,000. Bank of America Corp DE increased its holdings in shares of AB California Intermediate Municipal ETF by 7.8% during the first quarter. Bank of America Corp DE now owns 362,698 shares of the oil and gas company’s stock worth $9,056,000 after buying an additional 26,157 shares in the last quarter. Retirement Planning Group LLC bought a new position in shares of AB California Intermediate Municipal ETF in the 1st quarter valued at $513,000. Sanctuary Advisors LLC acquired a new stake in shares of AB California Intermediate Municipal ETF during the 1st quarter valued at $311,000. Finally, Diversify Wealth Management LLC acquired a new position in AB California Intermediate Municipal ETF in the 1st quarter worth about $301,000. Institutional investors and hedge funds own 85.00% of the company’s stock.

About AB California Intermediate Municipal ETF

Cameron International Corporation (Cameron), incorporated on November 10, 1994, provides flow equipment products, systems and services to worldwide oil, gas and process industries. The Company operates through four business segments: Subsea, Surface, Drilling and Valves & Measurement (V&M). The Subsea segment delivers integrated solutions, products, systems and services to the subsea oil and gas market, including integrated subsea production systems. Cameron’s Surface segment designs and manufactures wellhead and Christmas tree systemsfor onshore and offshore topside applications – from conventional to high-pressure, high temperature systems, to specialized systems for dry completions and heavy oil.