VanEck Intermediate Muni ETF (BATS:ITM) Hits New 1-Year Low – Time to Sell?

VanEck Intermediate Muni ETF (BATS:ITM)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $44.73 and last traded at $44.7180, with a volume of 90702 shares traded. The stock had previously closed at $44.96.

VanEck Intermediate Muni ETF Stock Down 0.5%

The firm’s 50 day simple moving average is $45.86 and its 200-day simple moving average is $46.48.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in VanEck Intermediate Muni ETF by 0.7% during the first quarter. Bank of America Corp DE now owns 16,468,733 shares of the company’s stock worth $764,643,000 after acquiring an additional 121,958 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of VanEck Intermediate Muni ETF by 10.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,239,352 shares of the company’s stock worth $199,928,000 after purchasing an additional 394,734 shares in the last quarter. TIAA Trust National Association grew its stake in shares of VanEck Intermediate Muni ETF by 70.9% during the 4th quarter. TIAA Trust National Association now owns 862,097 shares of the company’s stock worth $40,656,000 after purchasing an additional 357,608 shares during the period. FOCUS Wealth Advisors LLC grew its stake in shares of VanEck Intermediate Muni ETF by 1.0% during the 2nd quarter. FOCUS Wealth Advisors LLC now owns 184,357 shares of the company’s stock worth $8,663,000 after purchasing an additional 1,834 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of VanEck Intermediate Muni ETF by 41.0% in the 1st quarter. Royal Bank of Canada now owns 140,842 shares of the company’s stock valued at $6,539,000 after purchasing an additional 40,948 shares in the last quarter.

About VanEck Intermediate Muni ETF

The VanEck Intermediate Muni ETF (ITM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of investment grade, tax-exempt US municipal bonds with nominal maturities of 6-17 years. ITM was launched on Dec 4, 2007 and is managed by VanEck.