VanEck Intermediate Muni ETF (BATS:ITM) Reaches New 1-Year Low – Here’s Why

VanEck Intermediate Muni ETF (BATS:ITM)’s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $44.28 and last traded at $44.3050, with a volume of 398208 shares changing hands. The stock had previously closed at $44.43.

VanEck Intermediate Muni ETF Price Performance

The company’s fifty day simple moving average is $45.61 and its 200 day simple moving average is $46.36.

Hedge Funds Weigh In On VanEck Intermediate Muni ETF

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in VanEck Intermediate Muni ETF by 96.0% in the first quarter. Blue Trust Inc. now owns 633 shares of the company’s stock worth $29,000 after buying an additional 310 shares during the period. Compass Financial Management LLC purchased a new position in shares of VanEck Intermediate Muni ETF during the 2nd quarter worth approximately $53,000. International Assets Investment Management LLC grew its holdings in shares of VanEck Intermediate Muni ETF by 67.9% during the 1st quarter. International Assets Investment Management LLC now owns 1,204 shares of the company’s stock worth $56,000 after acquiring an additional 487 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of VanEck Intermediate Muni ETF in the 2nd quarter worth approximately $67,000. Finally, Continuum Advisory LLC bought a new position in shares of VanEck Intermediate Muni ETF in the 2nd quarter worth approximately $123,000.

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.