VanEck Intermediate Muni ETF (BATS:ITM) Stock Short Interest Declines 96.8%

VanEck Intermediate Muni ETF (BATS:ITM) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 34,853 shares, a decline of 96.8% from the October 15th total of 1,099,835 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 784,334 shares, the days-to-cover ratio is currently 0.0 days.

VanEck Intermediate Muni ETF Stock Performance

ITM traded down $0.17 during trading hours on Tuesday, hitting $45.90. 404,575 shares of the company’s stock were exchanged, compared to its average volume of 441,948. VanEck Intermediate Muni ETF has a 1-year low of $43.58 and a 1-year high of $48.02. The stock’s 50-day moving average is $44.91 and its two-hundred day moving average is $46.32.

Institutional Investors Weigh In On VanEck Intermediate Muni ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC grew its holdings in shares of VanEck Intermediate Muni ETF by 4,236.4% in the 3rd quarter. Bogart Wealth LLC now owns 7,502 shares of the company’s stock valued at $330,000 after acquiring an additional 7,329 shares in the last quarter. HighTower Advisors LLC acquired a new position in VanEck Intermediate Muni ETF during the third quarter valued at approximately $7,931,000. Cornerstone Wealth Management LLC boosted its position in VanEck Intermediate Muni ETF by 5.0% during the third quarter. Cornerstone Wealth Management LLC now owns 85,944 shares of the company’s stock valued at $3,782,000 after purchasing an additional 4,116 shares during the last quarter. Claro Advisors Inc. boosted its position in VanEck Intermediate Muni ETF by 270.3% during the third quarter. Claro Advisors Inc. now owns 28,043 shares of the company’s stock valued at $1,234,000 after purchasing an additional 20,469 shares during the last quarter. Finally, Gutierrez Wealth Advisory LLC grew its stake in VanEck Intermediate Muni ETF by 28.1% in the third quarter. Gutierrez Wealth Advisory LLC now owns 17,625 shares of the company’s stock valued at $775,000 after purchasing an additional 3,871 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.