Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) saw strong trading volume on Wednesday . 459,766 shares traded hands during mid-day trading, an increase of 241% from the previous session’s volume of 134,843 shares.The stock last traded at $24.34 and had previously closed at $24.23.

Invesco California AMT-Free Municipal Bond ETF Stock Performance

The stock’s 50 day moving average is $24.80 and its 200-day moving average is $24.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its stake in Invesco California AMT-Free Municipal Bond ETF by 60.6% during the third quarter. Larson Financial Group LLC now owns 2,650 shares of the company’s stock worth $66,000 after buying an additional 1,000 shares during the period. Bristlecone Advisors LLC bought a new stake in Invesco California AMT-Free Municipal Bond ETF in the third quarter worth about $78,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Invesco California AMT-Free Municipal Bond ETF during the 2nd quarter worth approximately $89,000. Atomi Financial Group Inc. bought a new stake in shares of Invesco California AMT-Free Municipal Bond ETF during the third quarter worth $202,000. Finally, Spinnaker Investment Group LLC purchased a new stake in shares of Invesco California AMT-Free Municipal Bond ETF during the fourth quarter valued at $201,000.

Invesco California AMT-Free Municipal Bond ETF Company Profile

The Invesco California AMT-Free Municipal Bond ETF (PWZ) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of insured investment-grade, tax-exempt debt issued by California or any US territory with at least 15 years remaining to maturity. PWZ was launched on Oct 11, 2007 and is managed by Invesco.