VanEck Intermediate Muni ETF (BATS:ITM) Reaches New 1-Year High – Here’s What Happened

Shares of VanEck Intermediate Muni ETF (BATS:ITM) reached a new 52-week high on Monday . The company traded as high as $47.85 and last traded at $47.8750, with a volume of 123923 shares changing hands. The stock had previously closed at $47.80.

VanEck Intermediate Muni ETF Price Performance

The firm’s 50-day moving average is $47.37 and its two-hundred day moving average is $46.85.

VanEck Intermediate Muni ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.117 per share. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, February 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITM. Bank of America Corp DE raised its position in VanEck Intermediate Muni ETF by 5.8% during the third quarter. Bank of America Corp DE now owns 15,865,319 shares of the company’s stock valued at $739,324,000 after purchasing an additional 869,902 shares during the period. Northwestern Mutual Wealth Management Co. increased 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 valued at $199,928,000 after purchasing an additional 394,734 shares during the last quarter. M&T Bank Corp bought a new position in shares of VanEck Intermediate Muni ETF during the 4th quarter valued at approximately $112,631,000. LPL Financial LLC raised its holdings in VanEck Intermediate Muni ETF by 2.4% during the 4th quarter. LPL Financial LLC now owns 2,133,566 shares of the company’s stock valued at $100,619,000 after buying an additional 50,368 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in VanEck Intermediate Muni ETF by 46.0% in the third quarter. Ameriprise Financial Inc. now owns 1,281,231 shares of the company’s stock worth $59,715,000 after buying an additional 403,482 shares during the last quarter.

VanEck Intermediate Muni ETF Company Profile

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.